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Corona social distancing effect … Lowest source price since 1999
December consumer price 0.5% … Monthly increase rate of 0% for 3 consecutive months
In the wake of the new coronavirus infection (Corona 19), this year’s consumer price increase remained at the 0% level after last year.
This is the first time that the annual rate of consumer price increase has reached the 0% range for the second year in a row.
Oil prices fell 7.3% due to the spread of Corona 19 abroad and public services fell 1.9% due to policy support.
◇ Annual price of 0% for 2 consecutive years … First after statistics
According to the annual trend of consumer prices published by the National Statistics Office on December 31, the consumer price index for this year was 105.42 (2015 = 100), 0.5% more than ago one year.
The annual rate of increase in consumer prices reached 0% for the second year in a row after 0.4% last year, the first time since 1965 when related statistics were prepared.
The period in which the annual consumer price reached 0% on an annual basis, including 2015 (0.7%), when low oil prices and the economic slowdown previously overlapped, and 1999 (0.8%) , immediately after the financial crisis of the International Monetary Fund (IMF). It’s your turn.
Ahn Hyeong-jun, a discussion on economic trends at the Bureau of Statistics, said: “As the international price of oil fell after Crown 19, the price of oil fell and the prices of personal services increased, such as dining out and leisure was limited due to social distancing. ” The drop in public services as a result of the support also had an impact, ”he explained.
◇ Rent rose 0.2 and public service fell 1.9%
This year’s service price increased just 0.3% over the previous year.
Personal services increased 1.2%, registering the lowest growth rate in eight years since 2012 (1.1%).
Of these, the rent increased by 0.2%.
Jeonse and the monthly rent were up 0.3% and 0.1%.
Public services decreased by 1.9% due to support for crown-related policies19 and public support in the education sector.
This is the lowest since the statistics were prepared in 1985.
Products were up 0.9%.
In particular, the price of agricultural and fishery products rose 6.7%.
It is the highest since 2011 (9.2%).
Chinese cabbage (41.7%), onion (45.5%), mackerel (12.8%) and pork (10.7%) rose.
Industrial products fell 0.2%.
Oil prices fell due to the Corona 19 spread abroad, and oil prices fell 7.3%.
Electricity, water and gas fell 1.4% due to the city’s gas cut.
◇ This year’s base price is the lowest since 1999
This year’s source price is also low.
The ‘Agricultural and Oil Products Exclusion Index’ (root price), which is prepared to identify long-term trends, excluding inflation due to seasonal factors or temporary shocks, increased 0.7% over the previous year.
This is the lowest rate of increase since 1999 (0.3%), when the financial crisis escaped.
The ‘Food and Energy Exclusion Index’, which is the basis of the Organization for Economic Cooperation and Development (OECD) standard, increased by 0.4% over the previous year.
It is also the lowest since 1999 (-0.2%).
The ‘Fresh Food Index’, which is calculated based on 50 items with large price fluctuations depending on weather conditions such as fish, shellfish, vegetables and fruits, increased by 9.0% over the previous year.
It is the highest since 2010 (21.3%).
The ‘Life Price Index’, which is based on 141 items that frequently buy and spend a large part of the total 460 items, rose 0.4% to the highest level since 2018 (1.6%).
◇ 0.5% of prices in December … 0% for 3 consecutive months
The monthly increase rate reached 0% for 3 consecutive months.
In December, the consumer price index was 105.67 (2015 = 100), 0.5% more than a year ago.
The monthly rate of increase in consumer prices rose to 0.0% in June, 0.3% in July, 0.7% in August and 1.0% in September this year, but fell to 0.1% in October due to government telecom cost support. lost.
Then, in November, the effect of supporting communication costs disappeared and fell to 0.6% and this month it was 0.5%.
In December, the underlying price was up 0.9% from the previous year.
Petty Officer Ahn said: “In December, the price of electricity and water as a whole fell as the annual price, and the price of agricultural and livestock products increased.”
/ yunhap news
