South Korea’s consumer inflation falls to 25-month low Asia News Network (ANN) is the leading regional alliance of news titles striving to bring the region closer, through an active sharing of editorial content on happenings in the region.
Korea s consumer prices rose by 2.3 percent in July, easing to a 25-month low. Given that major economies are still facing continuous price increases, Korea s low rate of inflation stands out as an exception. Market watchers believe that the government s indirect intervention in private sector prices explains this difference.
BOK predicts inflation to rebound from August, coming in at 3 percent by year-end Korea's consumer prices showed slowed growth, rising by 2.3 percent in July on-year, mainly due to the decline in international oil prices and base effect from last year, data showed Wednesday. According to Statistics Korea, consumer price growth, a key gauge of inflation, stood last month at 2.3 percent more than a year earlier. I.
Consumer price rises in Korea fell below 3 percent for the first time in 21 months this June, marking a fifth consecutive month of deceleration. As the figure signals a cooling of inflation, experts think the key interest rate will likely be maintained at its current level in the forthcoming monetary policy meeting.