SEOUL (Reuters) – South Korean consumers’ inflation expectations fell in September for a second month after six months of rises, although the decline was small, a central bank survey showed on Tuesday
The Bank of Korea said in a statement respondents to the survey gave a median answer of 4.2% when asked about their expectations for consumer inflation for the coming 12-month period, down from 4.3% in August, when the rate fell from 4.7% in July.
The finding comes as South Korean policymakers have said inflation in Asia’s fourth-largest economy would probably reach its peak by October, although the rate of expected inflation was still more than twice the central bank’s target of 2%.
The same survey found consumer confidence improved for a second month in September as the Consumer Sentiment Index (CSI) rose to 91.4 from 88.0 in August and 86.0 in July, which was the lowest since September 2020.
However, the survey was conducted between Sept. 13-20, before the outcome of the U.S. Federal Reserve’s Sept. 20-21 policy meeting rattled the global markets and would not include any change in outlook since then.
(Reporting by Choonsik Yoo; Editing by Christian Schmollinger)