Consumer price growth stays below 1 pct for 6th month in a row
- 5 years ago
6월 소비자물가 0.7%…반년째 0%대
Data show Korea's consumer inflation last month... stayed below 1 percent for a sixth month in a row.
That might sound like good news for shoppers, but it's far below the government's target.
Kim Da-mi has this report.
South Korea's consumer prices edged up point-seven-percent on-year in June,... and have been stuck below one percent for half a year now, ...mainly due to sluggish domestic demand and expanded welfare policies like free meals at school.
June's consumer price increase of point-seven-percent is well below the Bank of Korea's two percent target.
This is also the longest it has been below one percent since the February to November 2015 period.
The agency mentions sluggish growth in service prices as one of the main reasons for the low inflation rate.
The service price index last month edged up one-percent compared to the same period last year, pulled down by rents and public services which decreased by zero-point-two percent each.
The agency also pointed to the effect of lower oil prices after petroleum goods prices fell three-point-two percent on-year.
But consumers may feel that prices are a bit higher as agricultural goods prices in June went up almost two-percent... and livestock and fisheries product prices rose one-point-eight percent compared to the same month last year.
Statistics Korea expects the country's consumer price growth to remain below one-percent for the rest of the year... as service prices including electricity bills in July and August are likely to stay low.
KIM Da-mi, Arirang News.
Data show Korea's consumer inflation last month... stayed below 1 percent for a sixth month in a row.
That might sound like good news for shoppers, but it's far below the government's target.
Kim Da-mi has this report.
South Korea's consumer prices edged up point-seven-percent on-year in June,... and have been stuck below one percent for half a year now, ...mainly due to sluggish domestic demand and expanded welfare policies like free meals at school.
June's consumer price increase of point-seven-percent is well below the Bank of Korea's two percent target.
This is also the longest it has been below one percent since the February to November 2015 period.
The agency mentions sluggish growth in service prices as one of the main reasons for the low inflation rate.
The service price index last month edged up one-percent compared to the same period last year, pulled down by rents and public services which decreased by zero-point-two percent each.
The agency also pointed to the effect of lower oil prices after petroleum goods prices fell three-point-two percent on-year.
But consumers may feel that prices are a bit higher as agricultural goods prices in June went up almost two-percent... and livestock and fisheries product prices rose one-point-eight percent compared to the same month last year.
Statistics Korea expects the country's consumer price growth to remain below one-percent for the rest of the year... as service prices including electricity bills in July and August are likely to stay low.
KIM Da-mi, Arirang News.