South Korea Annual Inflation At Near 5-Year High

South Korea inflation rate rose to 2.2 percent in March of 2017 from 1.9 percent in the previous month. It was the highest annual rate since June of 2012 and outpaced expectations at 2.0 percent. The inflation rate surpassed the central bank target of 2 percent for the second time in 4.5 years.

Prices increased at a faster pace for food & non-alcoholic beverages (3.5 from 2.9 percent in February), clothing & footwear (1.2 percent from 1.1 percent), furnishings & household equipment (1.0 percent from 0.4 percent), and transport (6.4 percent from 6.0 percent). Prices of utilities rose at a 1.1 percent pace following no change in the previous month.

In contrast, prices increased at a softer pace for communication (0.2 percent from 0.8 percent in February), miscellaneous goods & services (2.8 percent from 3.1 percent), health (1.1 percent from 1.2 percent), and recreation & culture (1.0 percent from 1.1 percent).

Meanwhile, prices rose at the same pace for liquor & tobacco (1.4 percent), education (1.3 percent), and restaurants & hotels (2.3 percent).

On a monthly basis, consumer prices remained unchanged following a 0.3 percent rise in February.

 South Korea Annual Inflation At Near 5-Year High

Mario |
4/4/2017 5:31:09 PM