Consumer prices in South Korea rose 0.7 percent year-on-year in July of 2016, following 0.8 percent growth in the previous month and below market expectations of 0.8 percent. It was the lowest reading since September of 2015, as prices of food and transport declined while cost of housing and utilities rose at a faster pace. Core inflation was recorded at 1.6 percent, down from 1.7 percent in the previous month. On a monthly basis, consumer prices edged up 0.1 percent after remaining unchanged in a month earlier.
Year-on-year, upward prices pressure came from: housing, water, electricity, gas and other fuels (+0.9 percent from +0.2 percent in June); alcoholic beverages and tobacco (+0.3 percent from +0.6 percent); clothing & footwear (+1.6 percent from +2.2 percent); furnishing, household equipment & routine maintenance (+2.1 percent from +1.8 percent); health (+1.1 percent from +1.3 percent); communication (+0.1 percent from +0.1 percent); recreation and culture (+1.4 percent from +1.8 percent); education (+1.6 percent from +1.6 percent); restaurants and hotels (+2.4 percent from +2.4 percent) and miscellaneous goods and services (+1.6 percent from +1.9 percent). In contrast, cost declined for food and non-alcoholic beverages (-0.1 percent from -0.3 percent) and transport (-3.0 percent from -2.1 percent).
8/2/2016 12:36:40 AM