Inflation in Korea
Korea - Inflation (end of period)
Inflation comes in at highest level since December 2011 in November
Consumer prices rose 0.40% in November over the previous month, accelerating from October's 0.13% increase. Looking at the details of the release, food and non-alcoholic beverages prices rose in November after dropping in the previous month, while price pressures for transportation picked up pace.
Inflation rose to 3.7% in November, following October’s 3.2%. November's figure was the highest inflation rate since December 2011. Annual average inflation rose to 2.2% in November (October: 1.9%). Finally, core inflation fell to 2.3% in November, from the previous month's 2.8%.
FocusEconomics panelists project inflation averaging 1.8% in 2022, which is up 0.2 percentage points from last month’s forecast, and 1.6% in 2023.
Korea - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||1.1||1.3||1.4||1.3||0.7|
5 years of economic forecasts for more than 30 economic indicators.
Korea Inflation (eop) 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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December 2, 2021
Consumer prices rose 0.40% in November over the previous month, accelerating from October's 0.13% increase.
December 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 50.9 in November from October's 50.2.
December 1, 2021
Merchandise exports shot up 32.1% year-on-year in November, following October’s 24.1% jump.
November 30, 2021
Industrial output expanded 4.5% in year-on-year terms in October, which contrasted September's 1.8% decrease, albeit largely benefiting from a favorable base effect.
November 26, 2021
Business confidence among manufacturing firms came in at 88.0 in December, matching November's reading.