KONTAN.CO.ID - SEOUL. South Korea's consumer prices in December rose 5.0% from a year earlier, official data showed on Friday, matching market expectations and the pace seen in November. The consumer price index (CPI) was 0.2% higher than in November, when it showed a 0.1% monthly decline, according to Statistics Korea data. The median forecasts from a Reuters poll were for the CPI to be up 0.1% on the month and 5.0% on a year before. A breakdown of the data showed prices of agricultural products had been 1.6% lower than in December 2021. But utility prices jumped 23.2% and private service prices 6.0%, keeping the overall annual inflation rate high. The annual rate peaked at 6.3% in July.
South Korea Dec Inflation Steady at 5.0%, As Expected
KONTAN.CO.ID - SEOUL. South Korea's consumer prices in December rose 5.0% from a year earlier, official data showed on Friday, matching market expectations and the pace seen in November. The consumer price index (CPI) was 0.2% higher than in November, when it showed a 0.1% monthly decline, according to Statistics Korea data. The median forecasts from a Reuters poll were for the CPI to be up 0.1% on the month and 5.0% on a year before. A breakdown of the data showed prices of agricultural products had been 1.6% lower than in December 2021. But utility prices jumped 23.2% and private service prices 6.0%, keeping the overall annual inflation rate high. The annual rate peaked at 6.3% in July.