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S. Korea inflation expectations fall in August after 6 months of gains – survey

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News Tech: SEOUL, Aug 23 (Reuters) – South Korean consumers’ inflation expectations fell in August after six months of rises, a central bank survey showed on Tuesday, while their assessment of economic conditions improved.

Meanwhile, the Consumer Sentiment Index (CSI) rebounded to 88.0 in August, though still below the 100-mark that divides optimism and pessimism, after falling for three straight months to 86.0 in July, which was the lowest since September 2020.

The median of inflation expectations for the next 12 months fell to 4.3% in August from 4.7% in July, which was the highest since the monthly survey of consumers began in February 2002.

The finding comes two days before the Bank of Korea’s rate decision on Thursday, following an unprecedented half-point rate hike to 2.25% in July.

RegisterReporting by Jihoon Lee; Editing by Jacqueline Wong

Source: Reuters Trust Principles.

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