Tue, 26 Sep 2023

SEOUL, May 23 (Xinhua) -- South Korea's inflation expectations fell for the third consecutive month amid the lower headline inflation, central bank data showed Tuesday.

Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, stood at 3.5 percent in May, down 0.2 percentage points from a month ago, according to the Bank of Korea (BOK).

After hitting 4.0 percent in February, the inflation expectations continued to retreat to 3.9 percent in March and 3.7 percent in April.

The country's consumer prices gained 3.7 percent in April from a year earlier, falling below 4 percent in 14 months.

The composite consumer sentiment index rose 2.9 points over the month to 98.0 in May, continuing to climb for the third successive month.

It was attributed to slower inflation and consumption recovery.

The results were based on a survey of 2,351 households conducted from May 8 to May 15.

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