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Economic Calendar This Week: Week beginning 3 May 2021 Updated: 2021-05-03 13:39:13 KST


Statistics Korea, on Tuesday, is set to release its data on consumer prices for April.
The data for March showed the largest on-year increase in consumer prices in fourteen months, rising by one.five percent on-year.
That came largely on the back of a price increases of near 14 percent for agricultural, livestock and fisheries products.
When it comes to the April figure, the Ministry of Economy and Finance said last Friday that it expects consumer prices last month to have increased by at least two percent compared to the same month last year.
The ministry said that the large increase in the on-year figure is likely to be temporary because consumer prices were exceptionally low in the second quarter of last year due to Covid-19.
On Thursday, the Bank of Korea will announce the country's foreign exchange reserves as of the end of April.
Korea had foreign currency reserves of 446.one billion U.S. dollars as of the end of March, down one.43 billion dollars from a month before.
The fall came after the figure marked an all-time high of 447.six billion dollars in February.
The central bank attributed the drop to the strong U.S. dollar which reduced the value of non-dollar assets.
Deputy Prime Minister Hong Nam-ki stated last week that Korea was still the world's eighth-largest holder of foreign exchange reserves at the end of March.
Over in the U.S., the Bureau of Labor Statistics is set to report the country's unemployment rate for April.
The U.S. unemployment rate fell to 6.0% last month from 6.2% in February.
Market watchers largely predict that those figures to continue to improve as President Biden's one.nine trillion-dollar stimulus package spreads through the economy.
The Federal Reserve said last month that it expects the U.S. jobless rate could fall to four.five percent by the end of this year.
Seo Eunkyung, Arirang News.

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