Inflation in Korea
Korea - Inflation
Inflation comes in at highest level since January 2012 in October
Consumer prices increased 0.13% over the previous month in October, below the 0.50% rise logged in September. October's result marked the softest rise in prices since June. Looking at the details of the release, food and non-alcoholic beverages prices dropped in October compared to the previous month. Moreover, prices for communication also slumped in October. Contrastingly, prices for transportation, recreation and culture and restaurants and hotels increased.
Inflation increased to 3.2% in October, following September’s 2.5%. October's figure represented the highest inflation rate since January 2012. Annual average inflation rose to 1.9% in October (September: 1.6%). Finally, core inflation rose to 2.8% in October, from September’s 1.9%.
FocusEconomics panelists project inflation averaging 1.6% in 2022, which is unchanged from last month’s forecast, and 1.6% again in 2023.
Korea - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.7||1.0||1.9||1.5||0.4|
5 years of economic forecasts for more than 30 economic indicators.
Korea Inflation Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
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November 23, 2021
Consumer confidence rose to 107.6 in November from October's 106.8.
November 2, 2021
Consumer prices increased 0.13% over the previous month in October, below the 0.50% rise logged in September.
November 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) came in at 50.2 in October, down from September's 52.4.
November 1, 2021
Merchandise exports jumped 24.0% in annual terms in October (September: +16.7% yoy).
October 29, 2021
Business confidence among manufacturing firms fell to 88.0 in November from October's 93.0.