SEOUL (Reuters) – Stabilising costs are creating an setting to chop charges in South Korea, a senior presidential official mentioned on Sunday.
“(South Korea) is one of the countries with the most stable price levels compared to other countries globally,” Sung Tae-yoon, coverage chief for South Korean President Yoon Suk Yeol, advised a public broadcaster KBS.
“Therefore, I believe an environment where rates can be lowered is being created,” Sung mentioned.
South Korea’s shopper inflation slowed for a second straight month in Might to a 10-month low, official knowledge confirmed on Tuesday, coming in decrease than market expectations.
The buyer worth index (CPI) in Might stood 2.7% larger than a 12 months earlier, slower than an increase of two.9% in April and a acquire of two.8% tipped in a Reuters survey of economists. It was the slowest annual improve since July.
“As exports continue to improve and prices, the criteria for monetary policy, stabilize, monetary policy will also be able to be dealt with flexibly,” Sung advised the tv.
South Korea’s exports rose for an eighth straight month in Might, led by strong chip gross sales although total progress in shipments lagged market expectations, commerce knowledge confirmed earlier.
