South Korea Inflation Rate Eases in September
South Korean annual inflation rate was at 0.6 percent in September of 2015, slowing from 0.7 percent in the previous month and below market consensus. A further decline in cost of transport and a significant slowdown in price of food and non-alcoholic beverages offset an increase in cost of clothing and a slower drop of cost of housing & utilities.
10/2/2015 2:52:21 AM
Year-on-year, prices declined for: housing, water, electricity, gas and other fuels (-1.2 percent in September from -1.6 percent in August), transport (-7.0 percent from -6.5 percent), communication (-0.1 percent from -0.2 percent) and recreation and culture (-0.5 percent from -1.7 percent). In contrast, prices increased for: clothing and footwear (+1.4 percent from +1.1 percent); health (+1.6 percent from +1.5 percent) and education (+1.8 percent from +1.8 percent).
Prices moderated for food and non-alcoholic beverages (+1.0 percent from +2.2 percent); furnishing and household equipment & routine maintenance (+1.8 percent from +3.0 percent) and miscellaneous goods and services (+2.0 percent from +2.5 percent).
On a monthly basis, consumer prices fell 0.2 percent in September, the first decline since November 2014, following a 0.2 percent increase in the preceding month.
Annual core inflation, which strips out volatile energy and food prices, rose 2.1 percent, the same pace as in August.
For 2015, the country's central bank sets inflation to be between 2.5 percent to 3.5 percent.