Korea’s inflation fell below the 2.0 percent mark in September for the first time in more than three years, mainly thanks to lower fuel prices.
Emart and Coupang are venturing into the world of refurbished products as consumer trends shift toward cost-effective shopping.
With inflation steady at 2 percent in August, Bank of Korea Gov. Rhee Chang-yong said conditions are sufficient to consider a rate cut.
Korea’s inflation slowed to the lowest level in more than three years in August as prices for agricultural and petroleum products stabilized.
Korea's household savings hit a decade low due to inflation, high interest rates, and record-high household debt, leaving many struggling with financial burdens.
Producer prices in July rose 0.3 percent from a month earlier in the wake of abnormally heavy rains during the monsoon season.
Korea's consumer sentiment fell back in August from a more than two-year high the previous month due to U.S. recession woes and the subsequent stock market rout, a central bank poll showed Tuesday.
A government fails if it cannot solve inflation no matter how well it does in other areas.
With housing prices in Seoul rising ever-upward, Bank of Korea Gov. Rhee Chang-yong urged against overly optimistic rate-cut speculation.
The chief of the Korean central bank said Tuesday the country is expected to see a gradual easing of inflation, while market volatility grows amid high interest rates and political uncertainties in major nations.
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