Market

South Korean consumers’ inflation expectations inch up in January By Reuters

[ad_1]

© Reuters. FILE PHOTO: A shopkeeper waits for customers at a traditional market in Seoul, South Korea, January 14, 2022. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – South Korean consumers’ inflation expectations inched up in January, with sentiment toward economic conditions and the outlook also improving, a central bank survey showed on Thursday.

The median expectation for consumer inflation in the next 12 months rose to 3.9% in January, from 3.8% in December, according to the Bank of Korea’s survey of 2,500 households nationwide, conducted during Jan. 9-16.

It was the first increase in three months, after hitting a seven-month low in the previous month. It had risen to a peak of 4.7% in July, the highest in at least two decades.

The percentage of respondents who counted public costs as a factor affecting consumer prices rose 8.6 percentage points to 75.9%, while that for most other products fell. South Korea raised electricity prices for the first quarter by nearly 10%.

Meanwhile, the consumer sentiment index rose to 90.7 from 90.2, in its second straight month of gains, with sub-indexes on the outlook for spending up by 0.7 points and household income up 0.4 points.

[ad_2]

Source link

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

Related Articles

Leave a Reply

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