South Korean consumers’ inflation expectations inch up

  • South Korean consumers’ inflation expectations inched up in Jan 23, with sentiment toward economic conditions and the outlook also improving, a central bank survey showed on 26 Jan.
  • The median expectation for consumer inflation in the next 12 months rose to 3.9% in Jan 23, from 3.8% in Dec 22, according to the Bank of Korea’s survey of 2,500 households nationwide, conducted during 9-16 Jan.
  • It was the first increase in three months, after hitting a seven-month low in Dec 22. It had risen to a peak of 4.7% in July 22, the highest in at least two decades.
  • Meanwhile, the consumer sentiment index rose to 90.7 from 90.2, in its second straight month of gains, with sub-indexes on the outlook for spending up by 0.7 points and household income up 0.4 points.

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