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S. Korea's inflation expectations unchanged in June

SEOUL
2023-06-28 13:01

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SEOUL, June 28 (Xinhua) -- South Korea's inflation expectations were unchanged this month after dwindling for the past three months, central bank data showed on Wednesday.

Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, stood at 3.5 percent in June, and remain unchanged compared to the previous month, according to the Bank of Korea (BOK).

The expected inflation slowed down from 4.0 percent in February to 3.9 percent in March, 3.7 percent in April and 3.5 percent in May before pausing this month.

The country's consumer prices rose 3.3 percent in May from a year earlier. It kept slowing for the fourth consecutive month, but the figure still topped the BOK's mid-term inflation target of 2 percent.

The composite consumer sentiment index (CCSI) added 2.7 points from a month earlier to 100.7 in June, continuing to gain for the fourth successive month.

It was attributed to slower inflation and consumption recovery.

The results were based on a survey of 2,444 households conducted from June 13 to June 20.
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