SEOUL (Reuters) – South Korean consumers’ inflation expectations fell in August after rising for six straight months, while their assessment of economic conditions improved, a central bank survey showed on Tuesday.
Median inflation expectations in the coming months 12 fell from 4.7% in July to 4.3% in August, This is since February 2002.
Meanwhile, the Consumer Confidence Index (CSI) rebounded to 88.0 in August, but remains below
– a marker that distinguishes optimism from pessimism, July was the lowest since September after falling to 86.0 for three consecutive months) .
The discovery comes two days before the Bank of Korea’s interest rate decision on Thursday, after an unprecedented half-point hike to 2. 12% in July.
Asia’s fourth-largest economy is expected to lose steam this year as downside risks to exports and consumer spending rise due to slowing global demand and rising interest rates
South Korea’s annual inflation accelerated to 6.3% in July from 6.0% in June, the highest level in recent years 1998, while other data also pointed to prices The pace of the rise may be close to its peak.
The survey surveyed 2, 400 households in urban areas on household inflation expectations and consumer sentiment, among other topics, between August 8 and 16between.
