Inflation in Korea
Korea - Inflation
Inflation moderates in December
Consumer prices decreased 0.3% month-on-month in December, a less-pronounced drop than in November, when prices fell 0.7%. In December, lower prices came on the back of cheaper alcoholic beverages and tobacco, transport, communication, and recreation and culture.
Inflation moderated notably in December, falling from 2.0% in November to 1.3%, partly due to lower oil prices and a fuel tax cut. This represented a a five-month low and was below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, slowed to 1.1% in December from 1.2% in November. Annual average inflation, meanwhile, was unchanged at 1.5% in December.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, the panel expects inflation to also average 1.8%.
Korea - Inflation Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 1.3 | 1.3 | 0.7 | 1.0 | 1.9 |
Korea Inflation Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
Korea Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.97 | 1.55 % | Jan 14 |
| Exchange Rate | 1,123 | 0.21 % | Jan 14 |
| Stock Market | 2,065 | -0.40 % | Jan 14 |
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Economic News
Korea: Business conditions worsen slightly in December
January 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and reported by IHS Markit, rose to 49.8 in December from 48.6 in November.
Korea: Exports fall in December
January 2, 2019
Merchandise exports fell 1.2% year-on-year in December—contrasting November’s revised 4.1% increase (previously reported: +4.5% year-on-year)—to total USD 48.5 billion.
Korea: Inflation moderates in December
December 31, 2018
Consumer prices decreased 0.3% month-on-month in December, a less-pronounced drop than in November, when prices fell 0.7%.
Korea: Industrial production appears downbeat in November
December 28, 2018
Industrial production in the mining, manufacturing, and gas and electricity sectors rose 0.1% in November compared to the same month a year earlier, down from the revised 10.9% jump in October (previously reported: +10.7% year-on-year).
Korea: Forward-looking business confidence remains broadly unchanged for January
December 28, 2018
For January, the Bank of Korea’s forward-looking business confidence indicator (BSI) for manufacturers was stable at December’s 71 points, leaving it below the crucial 100-point threshold separating pessimism from optimism.
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