Korea: Inflation falls to lowest level since November 2024 in August
Latest reading: Inflation eased to 1.7% in August from July’s 2.1%. August’s reading marked the weakest inflation rate since November 2024 and was below the Central Bank’s 2.0% target. The reading was largely driven by slower growth in prices for housing and utilities.
The trend was unchanged, with annual average inflation coming in at July’s 1.9% in August. Meanwhile, core inflation fell to 1.3% in August from the previous month’s 2.0%.
Lastly, consumer prices fell 0.06% in August over the previous month, contrasting July’s 0.18% increase. August’s result marked the weakest reading since May.