Korea Inflation


Korea: Annual headline inflation remains unchanged in October

November 5, 2014

In October, consumer prices fell 0.30% over the previous month, which was down from the 0.06% drop recorded in September. The monthly decrease mainly reflected lower prices for food and beverages as well as for transport.

October annual headline inflation mirrored the 1.2% print recorded in September. As a result, annual average inflation also remained unchanged at September’s 1.3%.

Core consumer prices, which exclude fresh food and energy prices, fell 0.01% over the previous month, which followed the 0.05% drop observed in September. Regarding annual figures, core inflation edged down from 1.9% in September to 1.8% in October.

The Central Bank expects an annual average inflation of 1.4% in 2014 and of 2.4% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 1.6% in 2014, which is down 0.1 percentage points from last month’s forecast. In 2015, the panel expects average inflation to reach 2.3%, which is also down 0.1 percentage points from last month’s Consensus.

Author:, Economist

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Korea Inflation Chart

Korea Inflation October 2014

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: National Statistics Office of Korea (KOSTAT)

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