South Korea Inflation Rate Above Estimates in February


Consumer prices in South Korea increased 1.3 percent year-on-year in February of 2016, following a 0.8 percent growth in the preceding month and well above expectations of 1.0 percent. Cost of food rose at a faster pace while housing & utilities and transport fell. Core inflation rate was recorded at 1.8 percent, up from 1.7 percent in January. On a monthly basis, prices grew 0.5 percent.

Year-on-year, prices increased for: food and  non-alcoholic beverages (+3.3 percent in February from +1.6 percent in January); clothing & footwear (+1.9 percent from +0.6 percent); furnishing, household equipment & routine maintenance (+1.8 percent from +2.6 percent) and restaurants and hotels (+2.9 percent from +2.8 percent). In contrast, cost declined for: housing, water, electricity, gas and other fuels (-0.1 percent from -0.1 percent), transport (-1.4 percent from -2.2 percent) and communication (-0.1 percent from -0.1 percent). Also, prices went up for recreation & culture (+1.4 percent from +0.6 percent) and education (+1.8 percent from +1.8 percent), health (+1.1 percent from +1.3 percent) and miscellaneous goods and services (+1.5 percent from +0.9 percent).

Core inflation rate was recorded at 1.8 percent, following 1.7 percent in the previous month.

On a monthly basis,  consumer prices went up by 0.5 percent.

South Korea Inflation Rate Above Estimates in February


Statistics Korea l Yekaterina Guchshina | yekaterina@tradingeconomics.com
3/2/2016 11:22:34 PM