Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, stood at 3.9 percent in March, down 0.1 percentage point from the previous month, according to the Bank of Korea (BOK).
The downturn came as the BOK began to tighten its monetary policy stance in August 2021, raising its benchmark interest rate from a record low of 0.50 percent to 3.50 percent.
After hitting a record high of 4.7 percent in July last year, inflation expectations have been roughly on the slide.
The composite consumer sentiment index gained 1.8 points from a month earlier to 92.0 in March, recording the highest in nine months since June last year.
It was attributed to the slower rise in consumer prices and the lifting of measures against the COVID-19 pandemic.
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