Year-on-year, inflation eased for: transport (4.6 percent vs 4.7 percent in July); restaurants & hotels (2.6 percent vs 2.7 percent); clothing & footwear (0.6 percent vs 1.3 percent); furnishings, household equipment & routine maintenance (3.1 percent vs 3.5 percent); and alcoholic beverages & tobacco (0.1 percent vs 0.2 percent). In addition, cost fell for: housing, water, electricity, gas & other fuels (-0.8 percent vs 0.8 percent); health (-0.9 percent vs -1 percent); and communications (-1.6 percent from -1.5 percent).
Meantime, inflation was steady for education (at 1.4 percent), while picked up for recreation & culture (0.6 percent vs a flat reading) and miscellaneous goods & services (0.9 percent vs 0.6 percent). Also, prices of food & non-alcoholic beverages increased by 3 percent, twice faster than a 1.5 percent gain in a month earlier. It was the highest food inflation since September 2017.
Core CPI, which excludes oil and agricultural products, increased by 1 percent, the same as in July.
For 2018, the Bank of Korea sees inflation at 1.7 percent.
On a monthly basis, consumer prices went up 0.5 percent, following a 0.2 percent rise in July while markets estimated 0.4 percent.