South Korea September Inflation Eases to 2.9% Y/y, Matches Forecast
Government price caps helped slow inflation as agricultural prices fell 0.3% and the consumer price index rose 0.3% month over month, officials said.
- South Korea's Consumer Price Index rose 2.9 percent in September, matching the median forecast from a Reuters poll and moderating from August's 3.1 percent annual gain.
- Agricultural, livestock, and fisheries prices fell year-on-year for a second consecutive month, supported by targeted government measures ahead of the Chuseok holiday.
- Energy costs remained elevated, with Diesel prices rising 20 percent and gasoline increasing 11.8 percent, driving Industrial product prices up 4.2 percent.
- On a monthly basis, consumer prices edged up 0.3 percent, picking up slightly from the 0.2 percent gain in the previous month, while restaurant and hotel prices rose 2.8 percent.
- The Ministry attributed the deceleration to active policy measures, specifically noting that price caps on domestic petroleum helped curb inflation, keeping annual gains within the 2 percent range.
13 Articles
13 Articles
The consumer price inflation rate for September recorded 2.9%. This fell by 0.2 percentage points from the previous month's 3.1%, marking a slowdown in the rate of increase for the first time in two months. Although prices for agricultural, livestock, and fishery products decreased compared to last year, overall prices rose due to increases in services, electricity, gas, water, and manufactured goods. According to the "September Consumer Price T…
(Sejong = Yonhap News) Reporters Kim Soo-hyun and Song Jeong-eun = The consumer price inflation rate fell back to the 2% range last month.
Consumer prices in September rose 2.9% compared to a year ago. According to the "September Consumer Price Trends" released by the National Data Center on the 2nd, the consumer price index in September increased by 2.9% year-on-year. After rising from 2.8% in July to 3.1% in August, it fell back into the 2% range in September. By item, agricultural, livestock, and fishery products [ranked] last year
South Korea September inflation eases to 2.9% y/y, matches forecast
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