Public expects inflation to average at 3.9% for next 12 months: BOK's survey in June
Updated: 2022-06-29 08:01:50 KST
Consumers here in the country are feeling the heat from surging prices.
The Bank of Korea's monthly survey of roughly 25-hundred households in June showed, that the future inflation rate, as predicted by the public, hit its highest level in a decade.
The central bank said in June that consumers in the country expect inflation to average at three.nine percent over the next 12 months.
This is up point-six percentage points compared to the month before, rising for a fifth month in a row.
Amid soaring inflation, consumer sentiment regarding the economy also dropped below the 100 threshold for the first time in more than a year.
The central bank's Composite Consumer Sentiment Index in June stood at around 96.four, falling six.two points on-month.
A figure below one-hunred means public opinion on the economy is more pessimistic than optimistic.