Korea Inflation June 2018


Korea: Inflation remains stable in June

July 3, 2018

According to the National Statistics Office of Korea, consumer prices fell 0.2% over the previous month in June, contrasting the 0.1% increase logged in May. The decrease was primarily driven by lower prices for food and non-alcoholic beverages and recreation and culture. The dip was partially offset by higher prices for transport and healthcare and health products.

Inflation was stable at 1.5% in June, rising by the same margin as in May and undershooting market analyst expectations of 1.7%. Consequently, inflation remained below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, ticked down to 1.2% in June from 1.3% in May. Annual average inflation, meanwhile, remained steady for the fourth consecutive month at 1.7% in June.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.7% in 2018, which is down 0.1 percentage points from last month’s forecast. In 2019, the panel expects inflation to average 2.0%.


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Korea Inflation Chart

Korea Inflation June 2018

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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