0% low inflation for 2 consecutive years… ‘Gap’ with the perceived price

【Anchorment】
This year’s annual consumer price rose only 0.5% compared to last year.

However, as the so-called’house meal consumption’ increased in the aftermath of Corona 19, the price of dining tables such as agricultural, livestock, and other products rose significantly, showing that it was far from the perceived price of consumers.

This is reporter Kim Jong-min.

【 reporter 】
Looking at the annual consumer price trend released by the National Statistical Office, this year’s consumer price index rose only 0.5% from a year ago.

It recorded the 0% level for two consecutive years following 0.4% last year, and this is the first time since statistics were written.

It can be interpreted as a combination of the decline in oil prices and the aftermath of Corona 19 since last year.

【Interview】 Director Ahn Hyeong-joon / Economic Trend Statistics Reviewer, Statistics Korea
“I will briefly explain the cause of the increase of only 0.5%. We think that there are two reasons, one is the continued impact of Corona 19 and the other is the impact of policy support (free education, support for correspondence expenses for Corona 19, etc.) As, I look at it like this.”

【Standing】
However, it is far from the perceived price that consumers feel.

In particular, as the so-called’house meal consumption’ increased in the aftermath of Corona 19,’food prices’, mainly for vegetables such as cabbage, rose significantly.

【 reporter 】
In fact, prices for agricultural and fishery products jumped 6.7% from last year.

Chinese cabbage rose 41.7%, and onions rose 45.5%.

In addition, pork increased by 10.7%, domestic beef by 8.3%, and mackerel by 12.8%.

The’living price index’, which was created to determine the perceived inflation, also increased 2.9% compared to last year in food, while the rest after excluding food decreased by 1%.

The rent also rose 0.2%, while the jeonse rose 0.3% and the monthly rent rose 0.1%.

【Interview】 Professor Sung Tae-yoon / Yonsei University Department of Economics
“The perceived price of the people is high, but the actual price is low, reflecting the economic downturn, so I think there is a side that could worsen the economic situation further. This situation will continue to bring down the overall economy. I think.”

Among these, consumer prices in December rose 0.2% from November and 0.5% from December last year.

This is TBS Kim Jong-min.

#Statistics Office #Corona 19 #Consumer price index #Low price #Recession

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