Korea Inflation April 2018


Korea: Inflation ticks down in May

June 1, 2018

Consumer prices increased 0.1% in May from the previous month, according to the National Statistics Office of Korea. The result, which matched the print logged in April, reflected higher prices for healthcare and health products, and furnishings, household equipment and routine maintenance. Lower prices for food and non-alcoholic beverages moderated the increase in May.

Inflation ticked down to 1.5% in May from 1.6% in April, undershooting market analyst expectations of 1.7%. As a result, inflation drifted away from the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, slowed to 1.3% in May from 1.4% in April. Annual average inflation, meanwhile, remained steady for the third consecutive month at 1.7% in May.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2018, which is unchanged from last month’s forecast. In 2019, the panel expects inflation to average 2.0%.

Author:, Economist

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Korea Inflation Chart

Korea Inflation May 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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