In May, consumer prices remained flat over the previous month, mirroring the result recorded in April and broadly in line with the 0.09% increase observed in May 2010. Due to the subdued monthly reading, annual inflation stepped down to 4.1% in May, down from the 4.2% recorded in April. The reading slightly undershot market analysts' expectations that inflation would remain unchanged at 4.2%. With May's result, annual inflation remained above the Central Bank's target range of 3.0% 1.0 percentage points for the fifth consecutive month. Contrasting the developments in the headline figures, the core inflation index, which excludes more volatile items such as fresh food and energy, added 0.51% over the previous month, which was up from the 0.17% increase recorded in April. As a consequence, annual core inflation jumped from 3.2% in April to 3.5% May, the highest level since June 2009. The Central Bank expects inflation to end the year at 3.9% in 2011, before stepping down to 3.4% by the end of 2012.
Inflation inches down in May
June 1, 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
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.