South Korea's central bank says inflation to stay above target for a considerable time
In short
South Korea's central bank said inflation will stay above its target level for a considerable period. According to a 36Kr summary citing CLS, it expects this year's consumer price and core inflation to be broadly in line with its August forecasts of 2.7% and 2.5%.
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South Korea's central bank said inflation will stay above its target level for a considerable period, CLS reported on 22 October. Yicai and 36Kr carried the same statement. [ 1 , 2 , 3 ]
A 36Kr summary citing CLS said the bank expects this year's consumer price inflation and core inflation to be broadly in line with its August forecasts of 2.7% and 2.5%. It said next year's CPI and core CPI are expected to be higher than the earlier forecasts of 2.3% and 2.5%. [ 2 ]
Why it matters
The documents are short items and give no further detail on consequences. They show the central bank expects inflation to remain above target for an extended period.
Key facts
- South Korea's central bank said inflation will stay above the target level for a considerable period. [ 1 , 2 , 3 ]
- It expects this year's consumer price inflation and core inflation to be broadly in line with the August forecasts of 2.7% and 2.5%. [ 2 ]
- It expects next year's CPI and core CPI to be higher than the earlier forecasts of 2.3% and 2.5%. [ 2 ]
Confirmed by several sources
Still unclear
- How far next year's CPI and core CPI forecasts rise above the earlier 2.3% and 2.5%. The summary says only that they are expected to be higher than the earlier forecasts and gives no new figures.
- The forecast figures for this year and next year. They appear only in the 36Kr summary, which cites CLS; the other documents give no figures.