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High inflation expected to persist throughout 2nd half 時間：2023-01-30 來源： http://hcqlnh.com/ 作者：開云體育app官方網站我要評論(0)

Consumer inflation outlook hits all-time high of 4.7% in July

By Yi Whan-woo

Consumer expectations for inflation hit a record high at 4.7 percent in July, while their confidence in economic prospects fell to the lowest level in nearly two years, a Bank of Korea (BOK) survey showed, Wednesday.

The survey suggests consumers are not optimistic about inflation letting up in the second half, in contrary to the country's top economic policymaker who forecast prices will peak out in the months to come.

The survey, conducted from July 11 to 18 on 2,500 households, showed that consumers expect inflation to average around 4.7 percent over the next 12 months.

The figure marked the highest level since the central bank began compiling related data in July 2008.

This year, the figure remained in the 2 percent range between January and March before hovering in the 3 percent range between April and June.

Consumers' inflation outlook in July also accelerated at the fastest pace ever, up 0.8 of a percentage point from June, when it climbed 0.6 of a percentage point from May.

"It appears consumers think prices for day-to-day commodities will not fall sharply in the second half of this year," Hwang Hee-jin, a senior BOK official, said during a press briefing.

Hwang attributed the gloomy expectation mainly to the near-24-year high of 6 percent inflation in June.

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