Print Edition - 2018-10-07  |  Money Digest

South Korea’s inflation stays below 2 percent

SEOUL

Oct 7, 2018-

South Korea’s headline inflation stayed below 2 percent for 12 straight months despite a rising supply-side pressure such as higher prices for farm goods and oil products that was offset by a weak demand-side pressure, a government report showed on Friday. Consumer prices gained 1.9 percent in September from a year earlier, according to Statistics Korea. It hovered below the Bank of Korea’s (BOK) inflation target of 2 percent for 12 months since October last year. The consumer price inflation reached the highest since September last year, but it remained at a low level, reducing pressure on the BOK to raise its near-record-low interest rate. The BOK refrained from altering its policy rate since the bank upped it to the current 1.50 percent from an all-time low of 1.25 percent in November last year.  (XINHUA)

Published: 07-10-2018 08:12

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