Korea Inflation


Korea: Inflation steady in April at lowest level since 1999

May 1, 2015

In April, consumer prices registered increased 0.1% over the previous month, which was above the flat reading tallied in March. April’s print mainly reflected higher prices for recreation and culture, restaurants and hotels, as well as housing and utilities.

Annual headline inflation held at March’s 0.4% in April. The reading was in line with market expectations and marked the lowest reading since July 1999. Annual average inflation ticked down from 1.1% in March to 1.0% in April.

Core consumer prices, which exclude fresh food and energy prices, rose 0.1% in April over the previous month, which was down from the 0.2% tallied in March. Regarding annual figures, core inflation decreased from 2.1% in March to 2.0% in April.

The Central Bank expects annual average inflation of 0.9% in 2015 and 2.2% in 2016. FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2015, which is down 0.2 percentage points from last month’s forecast. In 2016, the panel expects average inflation to reach 2.0%.

Author:, Economist

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Korea Inflation Chart

Korea Inflation April 2015

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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