Korea Inflation


Inflation jumps in September

In September, consumer prices rose 0.66% over the previous month, which nearly doubled the 0.38% increase recorded in August. Annual inflation followed suit and rose from 1.2% in August to 2.0% in September, exceeding market expectations of a 1.8% rate. As a result, annual inflation returned to the Central Bank's target range of 3.0% plus/minus 1.0 percentage points. The core inflation index, which excludes more volatile items such as fresh food and energy, rose 0.10% over the previous month, following the 0.19% increase observed in August. Consequently, annual core inflation edged up from 1.3% in August to 1.4% in September. The Central Bank expects inflation to average 2.7% this year before rising to 2.9% next year.


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Korea Inflation Chart

Korea Inflation September 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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