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S. Korea’s consumer price growth dips below zero for the first time in October

October 4, 2019


for the first time on record South
Korea’s consumer price growth dropped into the negative range in September but
despite the worrying drop below zero percent growth the government is
dismissing concerns over deflation Naruto song explains statistics Korea
revealed Tuesday their South Korea’s overall consumer price growth recorded
minus 24 percent in September compared to the same month last year
something that has never happened since the agency began collecting related data
in 1965 since January this year consumer inflation in South Korea has remained
below 1% the agency said last month’s fall is only a temporary blip due to
government’s efforts to provide free education at all high schools and
because more diseases are now covered by state health insurance lower
agricultural fishery and oil prices also drag on growth in particular
agricultural goods prices tumbled by around 8 percent on-year due to the
relatively stable weather in South Korea this summer oil prices were down about
6% at an economic policy meeting on Tuesday the Finance Ministry and the
central bank insisted the whig inflation data seen in recent months isn’t enough
to trigger deflation concerns just yet vice finance minister Kim Yong bomb
pointing to South Korea’s improving consumer sentiment index as a reason to
be relatively optimistic for a turnaround before too long
Chesham arirang news

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