AP Explains: India lockdown slows virus, but gaps remain
- October 24, 2020
By ANIRUDDHA GHOSAL and EMILY SCHMALL – Associated Press – Monday, May 4, 2020
NEW DELHI (AP) – ’s six-week coronavirus lockdown,…Read More
By Kwanwoo Jun
South Korea‘s consumer inflation slowed to a six-month low in April, as the coronavirus pandemic suppressed consumer spending and weighed on price growth.
The benchmark consumer-price index edged up 0.1% from a year earlier–the slowest pace since October, 2019–after the prior month‘s 1.0% rise, the statistical office said Monday.
The latest reading missed the median forecast of seven economists polled by The Wall Street Journal for a 0.4% increase.
Lockdowns to contain the virus led consumers to spend less on travels, dining and other economic activities, the statistical office said.
Compared with the prior month, the CPI fell 0.6% in April, missing market expectations for a 0.2% decline. It fell 0.2% in March.
Core CPI, which strips out volatile energy and food prices, edged up 0.1% in April from a year earlier, slower than the 0.4% rise in March. On month, it fell 0.2%, the same pace as in March.
The Bank of Korea, which has set a 2% annual inflation target for 2020, has said that inflation may come in at 1% this year.
Inflation averaged 0.4% in 2019, significantly slower than 1.5% in 2018.
Write to Kwanwoo Jun at kwanwoo.jun