Korea: Inflation edges down in February
March 3, 2017
Consumer prices in Korea rose 0.3% from the previous month in February, which followed January’s 0.9% increase. The result was mainly driven by higher prices for food and non-alcoholic beverages, along with higher housing prices.
Inflation edged down from January’s four-year high of 2.0% to 1.9% in February. While the result narrowly missed the Bank of Korea’s target of 2.0%, it beat market expectations of a 1.6% rise. Annual average inflation hit 1.2% in February, up from January’s 1.1% increase. Core inflation, which excludes fresh food and energy prices, remained unchanged from a month earlier at 1.5%. Likewise annual average core inflation was stable at January’s 1.6% increase.
Author: Luis Lopez Vivas, Economist