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Korea Inflation April 2024

Korea: Inflation falls to lowest level since January in April

Inflation came in at 2.9% in April, down from March’s 3.1%. April’s reading was below market expectations but still above the central bank’s 2.0% inflation target, where it has been since early 2021. April’s dip in inflation was driven largely by lower food price pressures.

Accordingly, the trend pointed down slightly, with annual average inflation coming in at 3.1% in April (March: 3.2%). Meanwhile, core inflation fell to 2.3% in April, from March’s 2.4%.

Lastly, consumer prices increased 0.04% from the previous month in April, slowing down from March’s 0.15% increase. April’s result marked the softest rise in prices since December 2023.

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