News

South Korea consumer sentiment climbs for fifth month

SEOUL: South Korean consumers’ sentiment improved for a fifth consecutive month to a 15-month high in July, with their inflation expectations resuming a decline, a central bank survey showed on Wednesday (Jul 26).

The consumer sentiment index rose to 103.2 in July, from 100.7 in June, and was the highest reading since April 2022, the Bank of Korea’s monthly survey of consumers showed.

The biggest driver, according to the sub-indexes, was an improvement in consumers’ outlook for the economy, followed by improvements in their assessment of current economic conditions as well as current living conditions.

The median inflation expectation for the next 12 months fell to 3.3 per cent, the lowest since May 2022, after staying flat at 3.5 per cent in the previous month, which followed three straight months of decline.

The survey, conducted from Jul 11-18, was likely, but only partially, affected by heavy rains that left upward price pressure on agricultural products, a BOK official said during a media briefing held before the data was released.

Source: CNA

Donate to Breeze of Joy Foundation

Global NewsX

Global NewsX is a news sharing website that offers a wide range of categories, from politics and business to entertainment and sports. With its easy-to-navigate interface, users can quickly find the news they are looking for and stay up-to-date on the latest global events. Whether you're interested in breaking news, in-depth analysis, or just want to stay informed, Global NewsX has got you covered.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Home
Videos
Back
Account