SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s inflation picked up pace in July on high prices of fruits and petroleum products, though it stayed below 3 percent for the fourth consecutive month, data showed Friday. Consumer prices, a key gauge of inflation, rose 2.6 percent on-year last month, compared with a 2.4 percent increase [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea has continued to experience high inflationary pressure this year following the highest price growth in decades the previous year, but inflation in December ticked down for a second consecutive month in signs that price pressure is easing, data showed Friday. Consumer prices, a key gauge of inflation, [...]
SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s consumer price index declined for the very first time last month, a sign of deflation. Experts point out that declining consumer prices may become the so-called ‘new normal’ for South Korea. Statistics Korea reported that South Korea’s consumer prices reached a growth rate of 0.5 percent this [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s consumer price growth is anticipated to hit a record low level this year due mainly to declines in prices of agricultural and petroleum products, market watchers said Sunday. South Korea’s consumer prices inched up 0.5 percent over the January-August period, marking the lowest figure since Statistics Korea [...]
SEOUL, March 22 (Korea Bizwire) – The latest report from the Economist Intelligence Unit, Worldwide Cost of Living 2017, labelled Seoul as the sixth most expensive city in the world in 2016 out of 133 major cities examined. The EIU compared prices of over 150 products and services, using New York as a base city [...]
SEJONG, Feb. 2 (Korea Bizwire) – South Korea’s consumer prices rose at the fastest clip in more than four years in January on a sharp rise in food prices, government data showed Thursday. The country’s consumer price index gained 2 percent last month from a year earlier, accelerating from the previous month’s 1.3 percent rise, [...]
SEJONG, Mar. 3 (Korea Bizwire) — South Korea’s consumer prices grew less than 1 percent for the third month in a row in February, with the pace of growth the slowest since mid-1999, a government report showed Tuesday. The country’s consumer price index edged up 0.5 percent last month from a year earlier, down from [...]
SEOUL, Korea, Sep 16 (Korea Bizwire) – We are seeing so many comments by the world’s famous economists and top market analysts that the Korean economy is doing so well. The Wall Street Journal said on August 28, “Korea is the winner amid the emerging market turmoil.” JPMorgan chief economist Michael Feroli also said on September [...]