Korea Inflation July 2019


Korea: Inflation ticks down in July

August 2, 2019

Consumer prices fell 0.3% over the prior month in July, extending June’s 0.2% decrease. Lower prices for housing, water, electricity, gas and other fuels, as well as communication and health drove the decline. Conversely, recreation and culture prices rose notably in the month.

Inflation weakened to 0.6% in July from 0.7% in June, moving further below the Bank of Korea’s 2.0% target. On the other hand, core inflation, which excludes fresh food and energy prices, edged up to 1.0% from 0.9% in June, while annual average inflation was stable at 1.1%.

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 July 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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