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S. Korea's consumer price index falls to -0.4% m/m in September, lowest among OECD

2019-10-30 41 Dailymotion

韓 9월 물가상승률 OECD 40개국 중 최저<br /><br />Concerns over possible deflation in South Korea are intensifying... as the consumer price index fell into negative territory last month.<br />Even worse, data show South Korea had the lowest rate in the whole of the OECD.<br />Yoon Jung-min has more. <br />Last month South Korea's consumer price inflation remained the lowest among OECD members and even 'to-be' members,... mainly because of lower demand from the private sector.<br />Data released by the OECD on Wednesday showed South Korea's Consumer Price Index was minus point-4 percent in September.<br />That's far below the OECD average of 1-point-9 percent.<br />The consumer price index for the U.S. was 1-point-7 percent, zero-point-8 percent for the Euro area and point-2 percent for Japan.<br />In fact, South Korea saw one of the sharpest declines in its inflation rate than any other OECD member during the past year.<br />Last September, the consumer price index for South Korea was just above 2 percent,... lower than the OECD average, but higher than the Euro area.<br />However, South Korea's index turned negative this year while other G20 countries,... including the U.S. and Japan, all remained above zero.<br />Experts say concerns are growing on the back of sluggish private investment and consumption as well as lower agricultural product prices.<br />The Korea Development Institute said the falling consumer price index was not just attributable to the supply side but to the demand side as well.<br />The institute has criticized the Bank of Korea for its monetary policy,...calling for a more aggressive rate policy considering the rising concerns over deflation.<br />The central bank said in a earlier report that consumption has contracted due to slowing investment in facility and construction.<br />Yoon Jung-min, Arirang News. <br />

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