South Korea Inflation Rate Up to 1.4% in July


In July of 2013, South Korean inflation rate increased to a 5-month high of 1.4 percent, due to a rise in prices of agricultural and fishery goods and transport cost. From the preceding month, prices accelerated 0.2 percent, up from a 0.1 percent drop in June.

On a year-over-year basis, prices of Housing, water, electricity, gas and other fuels recorded the highest increase (up by 3.3 percent). Cost of Alcoholic beverages and tobacco, Recreation and culture and Restaurants and hotels rose 1.8 percent, 1.7 percent and 1.6 percent, respectively.

The index for food and non-alcoholic beverages increased 1.3 percent, from a 0.3 percent drop in June, and the index for Transport rose 1 percent, from 1.5 percent decrease in the previous month. 

Cost of Furnishings, household equipment and routine maintenance of the house dropped 0.4 percent, while the index for Communication remained unchanged in July. 

From June to July, the index for Food and non-alcoholic beverages, Transport and Recreation and culture increased 0.6 percent, 0.8 percent and 1.9 percent respectively. Cost of Housing, water, electricity, gas and other fuels and Restaurants and hotels went up 0.1 percent respectively.

The index for Clothing and footwear and Miscellaneous goods and services decreased 0.6 percent and 0.2 percent respectively.

Prices of Furnishings, household equipment and routine maintenance and Health went down 0.7 percent respectively in July. The index for Alcoholic beverages and tobacco, Communication and Education remained unchanged in July.

South Korea Inflation Rate Up to 1.4% in July


Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
8/1/2013 9:29:19 AM