Inflation in South Korea eased to the slowest pace since July 1999, adding to concern that prices could fall amid fragile demand at home and cheaper oil from abroad.
Consumer prices rose 0.4 percent in March from a year earlier, Statistics Korea said in a statement on Wednesday, matching the forecast by economists in a Bloomberg survey. Core prices, which exclude oil and agricultural products, rose 2.1 percent.
Finance Minister Choi Kyung Hwan has said he’s worried about the risk of deflation while Bank of Korea Governor Lee Ju Yeol has described concerns of falling prices as “excessive.” That didn’t stop the BOK last month joining more than two dozen other central banks in easing policy this year in the face of slowing inflation and growth.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015