Inflation in Korea
Korea - Inflation
Inflation decreases in December
Consumer prices increased 0.16% from the previous month in December, coming in below the 0.50% increase logged in November. December's result marked the weakest reading since June. Looking at the details of the release, the change in the prices for housing and utilities was largely steady in December, although prices for transportation dropped after growing in the previous month. Meanwhile, food and non-alcoholic beverages prices were largely steady.
Inflation came in at 3.7% in December, which was down from November’s 3.8%. Annual average inflation rose to 2.5% in December (November: 2.2%). Lastly, core inflation rose to 2.7% in December, from the previous month's 2.4%.
FocusEconomics panelists project inflation averaging 2.0% in 2022, which is up 0.2 percentage points from last month’s forecast, and 1.6% in 2023.
Korea - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.7||1.0||1.9||1.5||0.4|
5 years of economic forecasts for more than 30 economic indicators.
Korea Inflation Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
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January 14, 2022
At its meeting on 14 January, the Bank of Korea (BoK) raised the base rate by 25 basis points to 1.25%.
January 3, 2022
Consumer prices increased 0.16% from the previous month in December, coming in below the 0.50% increase logged in November.
January 3, 2022
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 51.9 in December from November's 50.9.
January 2, 2022
Merchandise exports soared 18.3% annually in December (November: +32.0% year-on-year).
December 30, 2021
Industrial production expanded 5.9% year-on-year in November (October: +4.5% yoy).