In October, consumer prices dropped 0.16% over the previous month, contrasting the 0.08% rise recorded in September and the 0.17% increase observed in October 2010. In addition, the result marked the first monthly drop since November last year. As a consequence, annual inflation dropped from 4.3% in September to 3.9% in October, which was below market analysts' expectations of inflation falling to 4.2%. As a result of the drop recorded in October, annual inflation fell inside the Central Bank's target range of 3.0% 1.0 percentage points for the first time in ten months. The core inflation index, which excludes more volatile items such as fresh food and energy, dropped 0.17% over the previous month, which contrasted the 0.17% increase observed in September and the flat reading recorded in October 2010. Consequently, annual core inflation inched down from 3.9% in September to 3.7% in October. The Central Bank expects inflation to end the year at 4.0% in 2011, before falling to 3.4% by the end of 2012.
Inflation back in target range for first time in ten months
November 4, 2011
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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
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.
September 30, 2016
Activity in Korea’s manufacturing sector deteriorated significantly in Q3.