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Low Inflation in the Korean Economy

Author

Listed:
  • Lee, Sora

    (Korea Institute for Industrial Economics and Trade)

Abstract

The recent inflation rate in Korea has been quite low. The Consumer Price Index, which reflects price levels seen in daily life, grew in the zero percent range until the middle of last year, and eventually recorded a negative growth rate in September. The GDP deflator, which represents a country’s overall price levels, also exhibited negative growth for the third consecutive quarter, raising concerns over the current situation. This paper examines the factors contributing to the current low rate of inflation, as the ripple effects on the overall economy may vary depending on the causes. This work analyzes recent price trends and the long-term (structural) and short-term factors that affect inflation.

Suggested Citation

  • Lee, Sora, 2020. "Low Inflation in the Korean Economy," Industrial Economic Review 20-1, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2020_001
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    More about this item

    Keywords

    inflation: Korea; price trends; business cycles;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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