Group 1 - The Consumer Price Index (CPI) in South Korea rose by 1.7% year-on-year in August, a significant slowdown from 2.1% in July and below the economists' expectation of 1.9% [1] - The primary driver for this unexpected cooling was a substantial reduction in communication costs, particularly due to SK Telecom's policy to halve mobile bills for 20 million users, resulting in a monthly decline of over 13% in communication service prices [1] - Excluding this one-time factor, the actual price dynamics in South Korea remain resilient, with food and non-alcoholic beverage prices increasing by 4.9%, education costs rising by 2.4%, and essential living expenses such as water, electricity, and fuel growing by 1.3% [1] Group 2 - Despite strong external demand, with semiconductor exports up 27.1% year-on-year and automotive and ship exports increasing by 8.6% and 11.8% respectively, the South Korean economy faces significant internal and external challenges [2] - The retail sales figures show a five-year growth trend, but underlying issues such as high household debt and a bubble in the real estate market raise concerns about consumer confidence, which reached a seven-year high [2] - The Bank of Korea is in a policy dilemma, maintaining the benchmark interest rate at 2.5% due to high housing prices and mortgage levels, while emphasizing the need to consider housing costs in defining price stability [2] Group 3 - A recent phase trade agreement between the South Korean government and the United States has locked in goods tariffs at 15%, which, while lower than the previously threatened 25%, still represents a significant increase compared to previous years [3] - Analysts believe this added cost pressure may accelerate the shift of more companies in South Korea to relocate their supply chains, intensifying the structural adjustment pressures on the economy [3]
韩国通胀意外降温至年内新低 为央行重启宽松周期铺路
Xin Hua Cai Jing·2025-09-02 04:10