S. Korea's inflation expectations unchanged at 3.3 pct in September-Xinhua

S. Korea's inflation expectations unchanged at 3.3 pct in September

Source: Xinhua

Editor: huaxia

2023-09-26 11:26:16

SEOUL, Sept. 26 (Xinhua) -- South Korea's inflation expectations made no change for the second straight month in September, halting the downward trend this year, central bank data showed Tuesday.

Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, stood at 3.3 percent in September, unchanged compared to the prior month, according to the Bank of Korea.

After peaking at 4.0 percent in February, the inflation expectations slowed down to 3.7 percent in April, 3.5 percent in May and 3.3 percent in July, but it remained at the same level in August and September.

Consumer prices advanced 3.4 percent in August from a year earlier, rebounding from an increase of 2.3 percent in the previous month on the back of higher price for agricultural products.

The headline inflation topped the central bank's midterm inflation target of 2 percent for 29 months in a row.

The composite consumer sentiment index (CCSI), which gauges the sentiment of consumers over economic situation, declined 3.4 points over the month to 99.7 in September, falling below 100 in four months.

It was attributed to the continued export fall and the still high inflation that was expected to hamper consumption.

The results were based on a survey of 2,375 households conducted from Sept. 11 to 18.