S. Korea's inflation to stay low in 2015
(MENAFN) A report showed that South Korea's inflation will stay low in the next year amid low domestic demand and falling global oil prices, Yonhap News reported.
Projections suggest that inflation will stand at 1.3 percent this year and 2 percent next year, both below the inflation target band by the Bank of Korea (BOK) of 2.5-3.5 percent.
"We now expect CPI inflation to remain low for a long time due to lower commodity prices, an extended negative output gap and increased pressure on firms to cut their prices," Nomura economist said.
Projections suggest that inflation will stand at 1.3 percent this year and 2 percent next year, both below the inflation target band by the Bank of Korea (BOK) of 2.5-3.5 percent.
"We now expect CPI inflation to remain low for a long time due to lower commodity prices, an extended negative output gap and increased pressure on firms to cut their prices," Nomura economist said.
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