Korea Inflation


Inflation falls to lowest level in over 12 years

In July, consumer prices dropped 0.19% over the previous month, down from the 0.09% drop recorded in June. Annual inflation fell from 2.2% in June to 1.5% in July, which was below market expectations of a 2.1% rate and marked the lowest level since May 2000. As a result, annual inflation is now below the Central Bank's target range of 3.0% plus/minus 1.0%. The core inflation index, which excludes more volatile items such as fresh food and energy, was flat over the previous month, following a 0.29% increase in June. Annual core inflation edged down from 1.5% in June to 1.2% in July, the lowest level since February 2000.


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Korea Inflation Chart

Korea Inflation July 2012

Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: KOSTAT-KOSIS and FocusEconomics calculations.

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