Korea Inflation August 2021

Korea

Korea: Inflation steady in August

September 2, 2021

Consumer prices rose 0.63% over the previous month in August, following July's 0.20% rise. August's result was the sharpest increase in prices since January. The pick-up was primarily driven by rising prices for housing and utilities. In addition, price pressures for food and non-alcoholic beverages rebounded.

Inflation was stable at July’s 2.6% in August. Annual average inflation ticked up to 1.5% in August (July: 1.4%). Lastly, core inflation ticked up to 1.8% in August, from the previous month's 1.7%.

FocusEconomics panelists project inflation averaging 1.9% in 2021, which is up 0.1 percentage points from last month’s forecast, and 1.5% in 2022.


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Korea Inflation August 2021 1

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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