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South Korea's inflation rate drops to 3.8% as core measures fall further
5 articles |
Updated 8h ago |
Created 10h ago
The latest figures show that consumer prices in South rose by only a modest amount, marking another decline for this year which has been driven down significantly due to lower food costs despite persistent energy price pressures; while headline inflation eased slightly compared with earlier months at 38%, core measures excluding volatile items fell more sharply reflecting broader economic headwinds.
Key Points
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1South Korea's unemployment rate rose to a record high of nearly 10% in March, driven by significant job losses across multiple sectors.
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2The construction sector contributed heavily with an increase from approximately 385k jobs lost (implied context) or similar magnitude drops reported elsewhere as the primary driver at around -42.6%, though specific figures vary slightly between sources ranging to a loss of over half million positions in one report and nearly three-quarters down another.
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3The manufacturing sector also saw substantial declines, with job losses reaching 15% according to some reports while other data points suggest smaller drops or different metrics depending on the source's focus.
Developments
[Mar 24]
Construction sector jobs decreased by approximately -38.6%, with a loss of over half million positions reported in one account and nearly three-quarters down another, indicating severe contraction.
[Mar 24]
Manufacturing sector jobs decreased by approximately -15%, representing a significant drop in that industry's employment levels.