South Korea Inflation Rate Eases in August
South Korean annual inflation eased to 1.40 percent in August of 2014 from 1.60 percent in the previous month and below market expectations. Costs of housing and utilities were slightly down in the month while prices of education and clothing and footwear remained stable.
In August of 2014, costs of housing and utilities rose 2.7 percent year-on-year, slightly easing from 2.8 percent in July. Prices also accelerated for furnishing, household equipment and routine maintenance (+2.4 percent from +2.3 percent), health costs (+ 0.8 percent from +1.3 percent), and recreation and culture (+0.9 percent from +0.3 percent). In contrast, prices declined for transport (-1.9 percent from - 0.9 percent), communication (-0.1 percent from 0.0 percent), food and non-alcoholic beverages (-0.5 percent from +1.1 percent) and alcoholic beverages and tobacco (-0.1 percent from - 0.2 percent).
9/2/2014 5:06:12 AM
South Korea Inflation Slows in July
South Korean annual inflation slowed to 1.60 percent in July of 2014 from 1.70 percent in the previous month. Prices of clothing and footwear rose the most while education costs remained stable in the month.
Published on 2014-08-01
South Korea Inflation Steady in June
South Korean annual inflation came in at 1.70 percent in June of 2014, steady compared with the same figure in May. Prices of clothing and footwear rose the most while cost of transportation and alcoholic beverages and tobacco decreased slightly.
Published on 2014-07-01
Clothing and footwear prices remained stable compared to the preceding month at 4.6 percent. The same held true for education costs, which unchanged at 1.7 percent in July of 2014 compared to the previous month.
On a month-on-month basis, inflation accelerated to 0.2 percent in August of 2014, up from 0.1 percent in July. Price pressures in August came from recreation and leisure (1.3 percent), food and non-alcoholic beverages (0.8 percent); housing, water and utilities (0.2 percent) and furnishing, household equipment & routine maintenance (0.1 percent).
Core CPI, which strips out volatile energy and food prices, gained 2.4 percent year-on-year in August of 2014 after increasing 2.2 percent in July.
The central bank of Korea forecasts inflation for 2014 may accelerate to 1.9 percent from a 1.3 percent increase last year.