Low Inflation in the Korean Economy

Sora Lee ()
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Sora Lee: Korea Institute for Industrial Economics and Trade, http://www.kiet.re.kr

No 20-1, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: The recent inflation rate in Korea has been quite low. The Consumer Price Index, which reflects price levels seen in daily life, grew in the zero percent range until the middle of last year, and eventually recorded a negative growth rate in September. The GDP deflator, which represents a country’s overall price levels, also exhibited negative growth for the third consecutive quarter, raising concerns over the current situation. This paper examines the factors contributing to the current low rate of inflation, as the ripple effects on the overall economy may vary depending on the causes. This work analyzes recent price trends and the long-term (structural) and short-term factors that affect inflation.

Keywords: inflation: Korea; price trends; business cycles (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2020-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kieter:2020_001

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