SEOUL, Mar. 6 (Korea Bizwire) — South Korea’s inflation ticked up to over 3 percent in a month in February on high prices of fresh food items and energy, data showed Wednesday. Consumer prices, a key gauge of inflation, rose 3.1 percent on-year last month, compared with a 2.8 percent increase a month earlier, according [...]
SEOUL, Mar. 6 (Korea Bizwire) – Despite the significant increase in fruit and vegetable prices, government interventions to regulate import quantities as a means to manage inflation are not feasible for apples, which have seen substantial price hikes, earning them the nickname “golden apples.” The stringent quarantine system is the primary barrier. According to the Korea [...]
SEOUL, Feb. 29 (Korea Bizwire) — Inflation could rise over 3 percent in South Korea in February on high prices of global oil and fresh food items, the finance ministry said Thursday, vowing all-out efforts to curb inflation. In January, consumer prices, a key gauge of inflation, rose 2.8 percent on-year, marking the first fall [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s consumer sentiment rose for a third consecutive month in February amid moderating inflation, a recovery in exports and hopes for an end to the Federal Reserve’s rate hikes, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 101.9 in February, up from 101.6 [...]
SEOUL, Feb. 15 (Korea Bizwire) – In an era marked by high inflation, consumers are increasingly seeking value for their money, leading to a significant surge in sales for budget coffee franchises last year. According to NH Nonghyup Card, these affordable coffee chains, including Mega Coffee, Paik Dabang, Compose Coffee, and Mammoth Coffee, witnessed a 37% [...]
SEOUL, Feb. 5 (Korea Bizwire) – As consumers grapple with rising inflation and interest rates leading to a domestic slowdown, the recommerce market, involving the resale of used items and collectible goods like luxury and limited edition products, is gaining momentum. Estimates suggest that the domestic recommerce market has recently surpassed a value of 30 trillion [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s inflation fell below 3 percent for the first time in six months in January, showing signs that inflationary pressure is easing, data showed Friday. But the prices could bounce back again to over 3 percent in the coming months due to rising global oil prices, Finance Minister [...]
SEOUL, Jan. 5 (Korea Bizwire) – The government will extend intensive policy support to bring inflation down below 3 percent in the first half of 2024 as prices are projected to ease slower than expected, the finance ministry said Friday. “Inflation is expected to moderate gradually to stay around 3 percent in the first half [...]
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, Dec. 27 (Korea Bizwire) — South Korea’s consumer sentiment snapped its four-month decline in December amid moderating inflation, a recovery in exports and hopes for an end in the Federal Reserve’s rate hikes, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 99.5 in December, up from 97.2 the previous [...]