South Korea's consumer sentiment improved in June to the highest level in thirteen months, as households' current and future living conditions improved amid an ease in inflation, survey results from the Bank of Korea showed on Wednesday.
The consumer confidence index rose to 100.7 in June from 98.0 in May. In April, the reading was 95.1. This was the highest reading since May 2022.
The consumer confidence survey was conducted between June 13 and 20, among 2,500 households.
The sub-index for households' assessment of the prospective living standards rose to 93 from 92, and the measure for the current living standards improved to 89 from 88.
Similarly, the index measuring consumers' prospective household income increased to 98 from 97.
South Koreans were less pessimistic about their job prospects and the relevant index climbed to 81 from 78.
Their interest rate expectations eased, and the measure dropped to 105 from 114.
The expected inflation rate for the upcoming year was 3.5 percent, the same as in May, the survey said.
Households' expectations for the domestic economic conditions in the future strengthened from 78 to 74.
