Reflecting the strong international oil price at the beginning of the year… Growth forecast remains at 3.0%
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(Seoul = Yonhap News) Reporter Shin Shin-kyung = The Bank of Korea raised its forecast for consumer price inflation this year to 3.1%, reflecting international oil prices that have risen since the beginning of the year. However, this year’s annual real gross domestic product (GDP) growth remained at 3.0%.
In its revised economic forecast released on the 24th, the BOK presented a 3.1% increase in consumer price inflation this year. This is 1.1 percentage points (p) higher than the previous forecast (2.0%) announced in November last year.
The last time the Bank of Korea set the consumer price inflation rate of 3% for the year was 3.2% in April 2012 (2012 forecast).
It is interpreted as a result of reflecting the international oil price approaching $100 per barrel since the beginning of the year and the still global supply bottleneck.
There was no change in the growth forecast for this year (3.0%).
Next year’s consumer price inflation rate and growth rate are expected to be 2.0% and 2.5%, respectively.
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2022/02/24 09:58 Send