South Korea Inflation Rate at 16-Month High

Consumer prices in South Korea rose 1.30 percent year-on-year in December of 2015, following a 1.0 percent rise in the preceding month and above expectations. It is the highest figure since October 2014, as cost of housing & utilities and transport fell at a slower pace while prices of food and clothing & footwear rose further.

Year-on-year, prices increased for: food and  non-alcoholic beverages (+1.9 percent in December from +1.1 percent in November); alcoholic beverages & tobacco (+50.3 percent from +50.0 percent); clothing & footwear (+1.3 percent from +0.9 percent); furnishing, household equipment & routine maintenance (+2.8 percent from +2.6 percent) and restaurants and hotels (+2.8 percent from +2.5 percent). In contrast, cpst declined for: housing, water, electricity, gas and other fuels (-0.1 percent from -0.2 percent), transport (-5.1 percent from -6.1 percent) and communication (-0.1 percent from -0.2 percent). While prices remained steady for recreation & culture (+0.6 percent) and education (+1.8 percent), cost moderated for: health (+1.3 percent from +1.4 percent) and miscellaneous goods and services (+2.4 percent from +3.0 percent).

Core inflation rose 2.4 percent year-on-year, unchanged from the previous month.

On a monthly basis,  consumer prices rose 0.3 percent, as compared to a 0.1 percent fall in November. It is the highest rate since July.

For full year of 2015, inflation was  recorded at 0.7 percent, significantly slowing from a 1.3 percent rise in 2014.

South Korea Inflation Rate at 16-Month High

Statistics Korea l Rida Husna |
12/31/2015 2:42:26 AM