In June, consumer prices dropped 0.09% over the previous month, contrasting the 0.19% increase recorded in May. Annual inflation fell from 2.5% in May to 2.2% in June, down from market expectations of an unchanged 2.5% rate, and marked the lowest level since October 2009. The core inflation index, which excludes more volatile items such as fresh food and energy, added 0.29% over the previous month, which was above the 0.19% increase observed in May. Annual core inflation, however, inched down from 1.6% in May to 1.5% in June, the lowest level since March 2006. In July, the Central Bank lowered this year's inflation forecast from 3.2% to 2.7%. For 2013, the Bank now expects inflation to average 2.9%, down from the previous 3.1% rate.
Inflation slows in June to lowest level in almost three years
July 2, 2012
Looking for forecasts related to Inflation in Korea? Download a sample report now.
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.