Korea: Inflation falls to lowest level since March 2021 in August
Inflation fell to 2.0% in August, following July’s 2.6%. August’s reading represented the weakest inflation rate since March 2021, and matched the Central Bank’s inflation target. The deceleration was largely due to a much slower rise in transport prices.
In addition, the trend pointed down mildly, with annual average inflation coming in at 3.0% in August (July: 3.1%). Meanwhile, core inflation fell to 2.1% in August from the previous month’s 2.2%.
Finally, consumer prices increased 0.36% from the previous month in August, picking up from the 0.25% rise logged in July.