South Korea Inflation Rate Down to 10-Month Low of 1.8%

Consumer prices in South Korea increased 1.8 percent year-on-year in October of 2017, easing from a 2.1 percent rise in September and below market expectations of 1.9 percent. It is the lowest inflation rate so far this year amid a slowdown in prices of housing, utilities and food after cost of agricultural and meat products have begun to stabilize after a summer drought.

Year-on-year, prices increased at a slower pace for: housing and utilities (1.8 percent from 3.9 percent in September); food and non-alcoholic beverages (1.7 percent from 3.3 percent); housing and utilities (1.8 percent from 3.9 percent); health (0.6 percent from 0.8 percent); clothing and footwear (1.1 percent from 1.2 percent); communication (0.2 percent from 0.3 percent) and alcoholic beverages and tobacco (1.6 percent from 1.8 percent). 

On the other hand, prices rose faster for restaurants and hotels (2.5 percent from 2.4 percent); transport (3.6 percent from 2.7 percent); education (1 percent); recreation and culture (0.3 percent from -1.4 percent); miscellaneous goods and services (3.1 percent from 2.7 percent) and furnishings, household equipment and routine maintenance (1.9 percent from 0.8 percent); 

Annual core inflation, which excludes volatile items such as energy and food was steady at 1.6 percent. 

On a monthly basis, consumer prices fell 0.2 percent after increasing 0.1 percent in September.

South Korea Inflation Rate Down to 10-Month Low of 1.8%

Statistics Korea | Joana Taborda |
11/1/2017 5:12:32 PM