Expected March inflation fell 0.1% percent to 3.9%… CPI slowdown, etc. impact

(Seoul = Yonhap Infomax) Reporter Han Jong-hwa = The expected inflation rate turned to a downward trend in three months.

According to the results of the consumer trend survey for March published by the Bank of Korea on the 29th, the expected inflation rate for the year was 3.9% this month, down 0.1 percentage point from the previous month.

The expected inflation rate has risen for two consecutive months since recording 3.8 per cent in December last year. In February, it showed 4.0%, returning to the 4% level, and then fell back to the 3% level this month.

Hwang Hee-jin, head of the Statistical Research Team at the BOK Bureau of Economic Statistics, said, “The rate of increase in rates of processed food, eating out, service and transportation is still very high,” he explained.

The proportion of responses to the question of what they expected to be the main items that will affect the increase in consumer prices over the next year were in the order of utility bills (81.1%), agricultural products and livestock ( 31.5%), and industrial products (23.6%).

Inflation perception, which is the perception of consumer price inflation over the past year, fell by 0.1 percentage point from the previous month to 5.1%.

On the other hand, among the major consumer sentiment indices (CSI), the CSI interest rate forecast recorded 120, up 7 points from the previous month.

“There was a lot of external news during the interest rate forecast survey,” said Hwang.

He added, “There seems to be more reaction that there is room for interest rates to rise as they hear news that global high inflation continues or that the tightening trend continues amid large fluctuations.”

The Consumer Sentiment Index (CCSI), which comprehensively reflects consumer sentiments on the economic situation, rose 1.8p from the previous month to 92.0 in March.

The Bank of Korea explained that the increase was due to the slowdown in inflation and the expectation of a daily recovery after the complete removal of masks.

Bank of Korea

The PPI for current living conditions rose 1 point to 83, and the PPI for proposed living conditions rose 4 points from the previous month to 87.

The DPC for forecasting household income recorded 96, up 1 point from the previous month, and the DPC for forecasting consumption expenditure, down 2 points to 110, respectively.

The current EPI economic judgment was 52, up 4 points from the previous month, and the future EPI economic outlook was 63, up 3 points.

Meanwhile, the CSI house price forecast was 80, up 9 points from the previous month. It has risen for four consecutive months since November 61 last year.

This article was served at 06:00, 2 hours earlier on the Infomax financial information terminal.

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