South Korea's Consumer Price Index (CPI) rose to 0.5% in February 2024, up from the previous month's 0.4%. The data was updated on March 5, 2024. The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. This increase indicates a slight uptick in overall consumer prices in South Korea during the month of February.
The comparison is done on a month-over-month basis, which means that the 0.5% figure represents the change in prices from January to February 2024. The CPI is an important economic indicator as it gives insight into inflation trends and can impact monetary policy decisions. With this recent uptick in CPI, policymakers and economists will be closely monitoring future data to assess the impact on the South Korean economy.
