Inflation in Korea
Korea - Inflation (end of period)
Inflation hits highest level since March in September
Consumer prices increased 0.66% in September over the previous month, slightly up from the 0.61% increase recorded in August. September's figure was the sharpest increase in prices since September 2018. The reading was largely due to rising prices for food and non-alcoholic beverages as well as for housing and utilities.
Inflation came in at 1.0% in September, up from August’s 0.7%. September's reading represented the highest inflation rate since March. Annual average inflation ticked up to 0.5% in September (August: 0.4%). Core inflation ticked up to 0.9% in the same month from August’s 0.8%.
FocusEconomics panelists project inflation averaging 0.4% in 2020, which is unchanged from last month’s forecast, and 1.0% in 2021, which is down 0.1 percentage points from the previous month’s estimates.
Korea - Inflation (eop) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %, eop) | 1.1 | 1.3 | 1.4 | 1.3 | 0.7 |
Korea Inflation (eop) Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
Korea Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.68 | 1.55 % | Dec 31 |
| Exchange Rate | 1,156 | 0.21 % | Dec 31 |
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Economic News
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Korea: BOK keeps rates at all-time low in October
October 14, 2020
At its meeting on 14 October, the Bank of Korea (BOK) kept the base rate at its record low of 0.50%, in line with market expectations. The Bank’s decision to hold came amid weak activity and a deteriorating labor market.
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Korea: Inflation hits highest level since March in September
October 6, 2020
Consumer prices increased 0.66% in September over the previous month, slightly up from the 0.61% increase recorded in August.
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Korea: Manufacturing PMI reaches eight-month high in September
October 5, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 49.8 in September from August’s 48.5, bordering the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month. The print came as output grew for the first time in seven months.
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Korea: Merchandise exports rebound in September on stronger IT shipments
October 1, 2020
Merchandise exports rose 7.7% in annual terms in September, rebounding from August’s 10.1% decline, amid an increasing demand for IT products due to the pandemic boosting home working.
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Korea: Business confidence steady in October
September 29, 2020
Business confidence in the manufacturing sector was unchanged at September's 68.0 in October.
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