In October, consumer prices fell 0.09% over the previous month, which contrasted the 0.66% increase recorded in September. Annual inflation inched up from 2.0% in September to 2.1% in October, in line with market expectations. As a result, annual inflation remains in 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, was flat over the previous month, following the 0.10% increase observed in September. Annual core inflation inched up from 1.4% in September to 1.5%.
Inflation remains within Central Bank's target range
November 1, 2012
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Korea Inflation Chart
Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: KOSTAT-KOSIS and FocusEconomics calculations.
Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.