Korea Inflation May 2019

Korea

Korea: Inflation remains subdued in May

June 4, 2019

Consumer prices rose 0.2% in month-on-month terms in May, down from the 0.4% increase recorded in April. The slowdown in May was due to lower prices for food and non-alcoholic beverages, and furnishings, household equipment and routine maintenance.

Inflation ticked up to 0.7% in May from 0.6% in April. Despite the acceleration, inflation remained well below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, edged down to 0.8% in May from 0.9% in April. Annual average inflation slowed to 1.2% from 1.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, the panel expects inflation to average 1.7%.


Author:, Economist

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Korea Inflation Chart


Korea Inflation May 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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