South Korea Inflation Rate Climbs to 1.5%

Consumer prices in South Korea increased by 1.5 percent year-on-year in December 2017, following a 1.3 percent rise in the previous month and matching market expectations. The Bank of Korea's inflation target is currently 2 percent.
Mario | 12/29/2017 3:34:17 PM
Prices rose at a faster pace for: housing and utilities (1.5 percent from 0.3 percent in November); restaurants and hotels (2.7 percent from 2.6 percent); health (0.4 percent from 0.3 percent); clothing and footwear (1.3 percent from 1.1 percent); miscellaneous goods and services (3.2 percent from 2.5 percent); and furnishings, household equipment & routine maintenance (1.8 percent from 1.7 percent). Meanwhile, inflation was unchanged for education (at 1 percent), communication (at 0.7 percent) and alcoholic beverages and tobacco (at 1.4 percent); and slowed for food and non-alcoholic beverages (0.2 percent from 0.5 percent); and transport (3.1 percent from 3.6 percent).

Prices of recreation and culture continued to fall (-0.6 percent from -0.9 percent).

Annual core inflation rate, which excludes food and energy, rose to 1.5 percent in December from 1.4 percent in the previous month.

On a monthly basis, consumer prices increased by 0.3 percent, following a 0.7 percent drop in November and beating market expectations of 0.2 percent.

The annual CPI for 2017 increased 1.9 percent compared to the previous year, with core inflation rising 1.5 percent.

South Korea Inflation Rate Climbs to 1.5%