Inflation in Korea
Korea - Inflation (end of period)
Inflation remains anemic in June
Consumer prices fell 0.2% over the prior month in June, swinging from May’s 0.2% increase. A strong decrease in the prices for food and non-alcoholic beverages primary led the downturn, while prices for recreation and culture also fell notably. Conversely, higher health costs partially offset the decline.
Inflation was stable at May’s 0.7% in June, remaining well below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, on the other hand edged up to 0.9% in June from 0.8% in May. Annual average inflation slowed to 1.1% from 1.2%.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2019, which is unchanged from last month’s forecast. In 2020, the panel expects inflation to average 1.6%.
Korea - Inflation (eop) Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %, eop) | 1.1 | 0.8 | 1.1 | 1.3 | 1.4 |
Korea Inflation (eop) Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
Korea Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.55 | 1.55 % | Jul 11 |
| Exchange Rate | 1,174 | 0.21 % | Jul 11 |
| Stock Market | 2,081 | -0.40 % | Jul 11 |
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Economic News
Korea: BOK slashes the base rate in July
July 18, 2019
At its 18 July monetary policy meeting, the Bank of Korea (BOK) voted to cut the base rate to 1.50% from 1.75%, surprising market analysts who had expected the Bank to hold fire until August.
Korea: Japan-South Korea trade showdown deals further blow to fragile economy
July 16, 2019
A long-standing feud escalated between Japan and South Korea in late June when political tensions rooted in an old wartime disagreement boiled over and Japan placed restrictions on exports to Korea of several high-tech materials.
Korea: Inflation remains anemic in June
July 2, 2019
Consumer prices fell 0.2% over the prior month in June, swinging from May’s 0.2% increase.
Korea: The manufacturing sector remains in the doldrums in June
July 1, 2019
The Nikkei and IHS Markit manufacturing Purchasing Managers’ Index (PMI) dropped to a four-month low of 47.5 in June from 48.4 in May, falling further below the threshold that separates expansion from contraction in the manufacturing sector.
Korea: Exports stagger significantly in June
July 1, 2019
Merchandise exports tumbled 13.5% in annual terms in June, down from the revised 9.5% contraction logged in May (previously reported: -9.4% year-on-year), totaling USD 44.2 billion in June (May: USD 45.9 billion).
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