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South Korea Inflation Slows Below Forecasts
2 Sep
Summary
- Consumer prices in August saw a 3.1% year-on-year increase.
- This rise was faster than July's 2.8% but below predictions.
- Monthly prices in August increased by 0.2%.
In August, South Korea experienced a consumer price increase of 3.1% when compared to the same month in the prior year. This figure, released by the Ministry of Data and Statistics, came in lower than the 3.2% anticipated by economists in a Reuters poll. The pace of inflation was marginally faster than the 2.8% annual rise observed in July.
Looking at month-on-month changes, the consumer price index rose by 0.2% in August. This followed a slight decrease of 0.2% in the previous month. Economists had projected a slightly higher monthly increase of 0.3%. The data indicates a moderation in price pressures compared to earlier expectations.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
