Korea: Inflation slows in July from June
Latest reading: Consumer prices increased 2.8% in annual terms in July, following a 3.2% rise in the previous month.
Relative to the prior month’s figures, there were milder price pressures for transportation (+7.7% in annual terms vs +11.1% in June) and food and non-alcoholic beverages (+0.9% vs +2.0% in June). In contrast, there were higher price pressures for housing and utilities (+1.8% vs +1.7% in June), recreation and culture (+5.5% vs +5.4% in June) and clothing and footwear (+2.8% vs +2.6% in June).
Meanwhile, core consumer prices were up 2.6% in annual terms in July, following a 2.5% rise in the prior month.
Finally, consumer prices fell 0.18% in July in month-on-month terms, following a 0.06% increase in the prior month.