South Korea Annual Inflation Returns To Target
South Korea’s inflation rate slowed to 1.9 percent in April of 2017 from 2.2 percent in the previous month, slightly below expectations of 2.0 percent. The inflation rate returned to the central bank target of 2.0 percent after surpassing it in March for the second time in 4.5 years. The result was mainly explained by softer growth in prices of food & beverages and transport. On a monthly basis, consumer prices decreased by 0.1 percent.
Prices increased at a softer pace for food & non-alcoholic beverages (2.6 percent from 3.5 percent in March), clothing & footwear (0.2 percent from 1.2 percent), health (0.7 percent from 1.1 percent), furnishings & household equipment (0.9 percent from 1.0 percent), transport (5.4 percent from 6.4 percent), restaurants & hotels (2.2 percent from 2.3 percent), and miscellaneous goods & services (2.5 percent from 2.8 percent). Also, communication prices decreased 0.3 percent after rising by 0.2 percent in the previous month.
In contrast, prices increased at a faster pace for liquor & tobacco (1.5 percent from 1.4 percent in March) and recreation & culture (1.9 percent from 1.0 percent).
Meanwhile, inflation rate was steady at 1.1 percent for utilities and at 1.3 for education.
On a monthly basis, consumer prices retreated 0.1 percent after remaining unchanged in March.
5/1/2017 11:29:50 PM