KONTAN.CO.ID - SEOUL. South Korea's year-on-year inflation in August dipped to an all-time low as farm product prices plunged on improved weather and consumer demand remained weak, strengthening the case for another central bank rate cut as early as next month. The consumer price index was unchanged in August from a year earlier, Statistics Korea data showed on Tuesday, missing a 0.2% rise tipped in a Reuters survey and marking the lowest since the country began releasing inflation data in 1965. Separately, the Bank of Korea (BOK) on Tuesday revised down the economic growth for the April-June period to 1.0% on-quarter from a 1.1% gain reported earlier, citing weaker exports than estimated earlier.
South Korea inflation hits record low, 2Q GDP downgraded
KONTAN.CO.ID - SEOUL. South Korea's year-on-year inflation in August dipped to an all-time low as farm product prices plunged on improved weather and consumer demand remained weak, strengthening the case for another central bank rate cut as early as next month. The consumer price index was unchanged in August from a year earlier, Statistics Korea data showed on Tuesday, missing a 0.2% rise tipped in a Reuters survey and marking the lowest since the country began releasing inflation data in 1965. Separately, the Bank of Korea (BOK) on Tuesday revised down the economic growth for the April-June period to 1.0% on-quarter from a 1.1% gain reported earlier, citing weaker exports than estimated earlier.