South Korea Inflation Rate at 7-Month High of 1.2% in September


Consumer prices in South Korea went up 1.2 percent year-on-year in September of 2016, compared to a 0.4 percent rise in August and above market expectations of a 0.8 percent increase. The inflation reached the highest level since February, led by a surge in food prices. On a monthly basis, prices jumped 0.6 percent.

Year-on-year, upward prices pressure came from: food and non-alcoholic beverages (+5.6 percent from +0.5 percent in August); furnishing, household equipment & routine maintenance (+2.4 percent from +1.4 percent); and recreation and culture (+2.2 percent from +1.8 percent). In contrast, prices fell for housing, water, electricity, gas and other fuels (-1.8 percent from -1.4 percent) and transport (-1.8 percent from -3 percent). Meanwhile, cost rose at a slower pace for alcoholic beverages and tobacco (+0.4 percent from +0.5 percent); clothing & footwear (+1.6 percent from +2 percent); and restaurants and hotels (+2.2 percent from +2.3 percent).

On a monthly basis, prices jumped 0.6 percent, following 0.1 percent drop in August. Prices rose for food (+4.6 percent) and household equipment & routine maintenance (+0.6 percent).

Core inflation rate increased to 1.3 percent, compared to 1.1 percent in the previous month.

South Korea Inflation Rate at 7-Month High of 1.2% in September


Statistics Korea l Yekaterina Guchshina | yekaterina@tradingeconomics.com
10/4/2016 11:30:49 PM