(MENAFN) Samsung Securities has forecast that annual growth in the nation's consumer prices could plunge to the zero percent range with global oil prices slipping to below USD50 per barrel, QNA reported.
The securities firm lowered its projection for annual growth in consumer prices to 9.1 percent from 1.4 percent. Credit Suisse lowered its projection also to 9.1 percent from 2.9 percent.
Last month, Bank of Korea Governor said in a news conference held after a monthly meeting on financial and monetary policies that marking down forecasts for consumer prices will become inevitable.
Meanwhile, the Korea Development Institute said if global oil prices slip to USD49 per barrel, growth in consumer prices will drop 4.1 percent compared to the growth rate posted when oil prices remained at USD60.
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