Korea Inflation June 2019


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%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2019, which is unchanged from last month’s forecast. In 2020, the panel expects inflation to average 1.6%.

Author:, Economist

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Korea Inflation Chart

Korea Inflation June 2019

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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