February 2006 consumer prices
Analysis
Consumer prices in February grew 2.3 percent from a year earlier with its stability intact. Core inflation was up 1.7 percent on-year while consumer prices for basic necessities, a barometer of perceived consumer prices, rose 3.3 percent.
Prices of agricultural, livestock and fishing products were down 0.1 percent from a year earlier despite price hikes in vegetables, as the prices of grains and fruits decreased. Industrial goods prices climbed up 3.2 percent due to higher oil prices. Also, hikes in highway tolls and taxi fares in some provinces pushed up public utility charges by 3.1 percent. Housing rental fees stayed stable diminishing 0.2 percent year-on-year, while personal services gained 3.2 percent led by rises in college preparatory institute tuitions and the management expenses of apartment housing.
Assessment
Consumer prices in February rose 0.2 percent month-on-month helped by stable prices of agricultural and fishing products, registering a record low compared to the same period of previous years since 2000 when consumer prices grew 0.3 percent. Meanwhile, consumer prices gained 2.3 percent year-on-year, showing stability within the government’s 2006 target of 3 percent.
Prospects for March 2006
Price stability is projected to continue in March. On-year changes of consumer prices are likely to stay in the 3 percent range as agricultural goods prices will become stable.
However, international oil price movements affected by geopolitical factors in oil-producing countries such as Iran may play a key variable in price stability.
* International oil prices (Dubai crude, US$/B)
54.0 (Oct 2005) -> 51.5 (Nov) -> 53.3 (Dec) -> 58.5 (Jan 2006) -> 57.7 (Feb)
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2008년 10월 6일 16:30
