In November, consumer prices rose 0.10% over the previous month, contrasting both the 0.19% drop recorded in October and the 0.49% decrease observed in November 2010, and marking the first monthly rise after two consecutive drops. As a consequence, annual inflation picked up from 3.6% in October (previously reported: +3.9%) to 4.2% in November. As a result of November's increase, annual inflation rose back above the Central Bank's target range of 3.0% 1.0 percentage points. The core inflation index, which excludes more volatile items such as fresh food and energy, rose 0.29% over the previous month, which contrasted the 0.10% drop observed in October and was above the flat reading recorded in November 2010. Consequently, annual core inflation picked up from 3.2% in October (previously reported: 3.7%) to 3.5% in November. According to the Economic Outlook for 2012 released on 9 December, the Central Bank confirmed its 4.0% end-of-year inflation forecast for 2011. The Central Bank sees inflation ending 2012 at 3.3%, down from a previously forecasted 3.4%.
Inflation rises back above target
December 1, 2011
Looking for forecasts related to Inflation in Korea? Download a sample report now.
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.