S. Korea’s CPI inflation to fall in ’24

South Korea’s consumer price index (CPI) inflation is expected to be 2.5 per cent this year, slightly lower than the May forecast of 2.6 per cent. Core inflation is stable around two per cent and agricultural price growth is slowing.

Next year’s inflation projection remains at 2.1 per cent. Core inflation is expected to be 2.2 per cent this year and 2.0 per cent next year, consistent with previous forecasts, according to a report published by Bank of Korea (BOK) on Sunday.

Attribution: Bank of Korea report

Subediting: M. S. Salama