ID :
211436
Thu, 10/06/2011 - 03:53
Auther :
Shortlink :
https://oananews.org//node/211436
The shortlink copeid
S. Korea's core inflation rate 2nd highest in OECD: report
SEOUL (Yonhap) - South Korea's core inflation growth rate for August was the second highest among the world's leading developed economies with high incomes, a report showed Thursday.
According to the Organization for Economic Cooperation and Development (OECD) report conducted on its 34 members, South Korea's core consumer prices rose 3.25 percent on-year, the second sharpest gain after the 6.06 percent tallied for Turkey.
Core inflation is considered a more accurate appraisal of living costs compared to the general consumer price index because it excludes volatile oil and food costs, which are highly volatile and vary from month to month due to weather and other conditions.
Seoul's consumer price index rose 5.33 percent in the cited month, the organization said.
The latest report also showed Iceland, Britain and Slovakia reporting core inflation growth exceeding 3 percent, while numbers for Japan, Greece and Slovenia contracted vis-a-vis August 2010.
Japan, struggling from the aftermath of the massive earthquake and release of radioactive materials in March, posted minus growth of 0.38 percent.
The OECD report, meanwhile, said gains in South Korea's overall consumer prices were the third highest among its members states after Turkey and Estonia. Turkey's consumer prices shot up 6.65 percent, with numbers for Estonia reaching 5.48 percent, the Paris-based agency said.
According to the Organization for Economic Cooperation and Development (OECD) report conducted on its 34 members, South Korea's core consumer prices rose 3.25 percent on-year, the second sharpest gain after the 6.06 percent tallied for Turkey.
Core inflation is considered a more accurate appraisal of living costs compared to the general consumer price index because it excludes volatile oil and food costs, which are highly volatile and vary from month to month due to weather and other conditions.
Seoul's consumer price index rose 5.33 percent in the cited month, the organization said.
The latest report also showed Iceland, Britain and Slovakia reporting core inflation growth exceeding 3 percent, while numbers for Japan, Greece and Slovenia contracted vis-a-vis August 2010.
Japan, struggling from the aftermath of the massive earthquake and release of radioactive materials in March, posted minus growth of 0.38 percent.
The OECD report, meanwhile, said gains in South Korea's overall consumer prices were the third highest among its members states after Turkey and Estonia. Turkey's consumer prices shot up 6.65 percent, with numbers for Estonia reaching 5.48 percent, the Paris-based agency said.
