Korea: Annual headline inflation drops in February to lowest level since 1999
March 3, 2015
In February, consumer prices registered no change over the previous month, which was down from the 0.5% increase tallied in January. February’s print reflected that much lower prices for transport due to the low cost of fuel were offset by higher prices for household items and for food and non-alcoholic beverages.
Annual headline inflation declined from 0.8% in January to 0.5% in February. The reading undershot the 0.7% that markets had expected and marked the lowest reading since 1999. Annual average inflation ticked down from 1.3% in January to 1.2% in February.
Core consumer prices, which exclude fresh food and energy prices, rose 0.10% in February over the previous month, which was down from the 0.94% tallied in January. Regarding annual figures, core inflation inched up from December’s 2.0% to 2.1%.
Author: Carl Kelly, Economist