BOK: S. Korea consumer sentiment index falls 0.8 in Sep. ’24

South Korea’s Composite Consumer Sentiment Index (CCSI) dipped slightly to 100.0 in September 2024, down 0.8 points from the previous month, according to a statement published by the Bank of Korea (BOK).

Consumers’ perceptions of their current living standards and future prospects held steady at 90 and 94 points, respectively. Similarly, the outlook for future household income remained unchanged at 98 points.

Consumer sentiment regarding future household spending dipped by one point to 108, suggesting a more cautious approach to spending.

Moreover, perceptions of both current and future domestic economic conditions deteriorated, falling by two points each to 71 and 79, respectively.

Looking ahead, consumers anticipated inflation to reach 2.8 per cent in the coming year.

Attribution: The Bank of Korea statement

Subediting: M. S. Salama