Korea: Inflation remains anemic in June
July 2, 2019
Consumer prices fell 0.2% over the prior month in June, swinging from May’s 0.2% increase. A strong decrease in the prices for food and non-alcoholic beverages primary led the downturn, while prices for recreation and culture also fell notably. Conversely, higher health costs partially offset the decline.
Inflation was stable at May’s 0.7% in June, remaining well below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, on the other hand edged up to 0.9% in June from 0.8% in May. Annual average inflation slowed to 1.1% from 1.2%.
Author: Lindsey Ice, Economist