According to the Monetary Policy Committee on the 12th, if the production price rises to the highest level for 12 consecutive months and the consumer price includes the rise in housing costs as in the United States, the rate of increase will be close to that of the US by 5.3%.
The Producer Price Index of the Bank of Korea was 112.21 (2005 = 100) in October, the highest for seven consecutive months, and the producer price rose 0.8% from the previous month, rising 8.9% from the previous year for 12 consecutive months. 10.8%), which is the highest since
At the Monetary Policy Committee held on the 12th, "In August of this year, the US consumer price inflation rate was 5.3%, greatly exceeding that of Korea's 2.6%. If you do, the inflation pressure in Korea doesn't seem small compared to the US." He said, "If you calculate the consumer price index after including the cost of own housing like in the US and excluding the management price items unique to Korea, Korea's inflation rate is much higher than it is now. The remarks of the Monetary Policy Committee that said, "It will be wider," were released on the 10th.
The Bank of Korea's consumer price increase in October rose 3.2% from the previous year, the highest rate of increase in 9 years and 9 months, and the September producer price rose 7.6% (compared to the same month of the previous year), the highest rate of increase in 10 years and 5 months.
In the US, the consumer price index rose 6.2% in October and the producer price index rose 8.6% year-on-year, the highest growth rate in history for the second month in a row.
At the 'Price Relations Loan Meeting' on the 19th, 1st Vice Minister of Strategy and Finance Lee Won Lee revealed that "98% of the total real estate tax has nothing to do with the public." He expressed his opposition to the US price management.
Due to the high export strategy of the Corona V rebound policy, the import price increase rate was 35.8% in October following 26.6% in September (compared to the same month of the previous year), the highest increase in 13 years.
When imports are included, the domestic supply price index rose 1.4% MoM and 14% higher than a year ago.
Although domestic shipment prices fell in production raw materials, import prices rose 3.9% from the previous month.
In October, prices fell 4.7% from the previous month due to an increase in the supply of agricultural, forestry and fishery products, but industrial products rose 1.8%, resulting in a 0.8% increase in producer prices.
Food (-2.4%) and fresh food (-8.3%) fell, but energy rose 6.6% and coal and petroleum products surged 12.6%.
According to the Food and Agriculture Organization of the United Nations (FAO) Food Forecast Report on the 11th, global food imports totaled $1.75 trillion (200 trillion won) this year, an all-time high, up 14% from the previous year.
Regarding this year's increase in food imports, he said, "In some countries, import food prices rose especially in the second and third quarters." will,” he said.