Updated : 2025-12-18 13:18:59 KST
On the economic front. Consumer price increases in South Korea have been rebounding for the past couple months at 2.4-percent on year with the projection for next year at 2.1-percent. All this as the Korean won continues to weaken further against U.S. dollar a primary concern for the nation's economy. Our Kim Do-yeon reports. The Bank of Korea projects consumer prices to increase by 2.1 percent next year, but highlighted a recent rebound in prices due to exchange rate volatility.
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CPI 소비자 물가 지수(consumer price index)
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Governor Rhee Chang-yong stated on Wednesday during an inflation briefing that "if the exchange rate continues at its current high level, inflation is likely to rise higher than the current forecast." "Several factors are compounding to drive up recent consumer inflation. Unlike previous years, unfavorable weather has kept agricultural and fishery prices high, while the rising exchange rate has kept oil prices strong." Taking a closer look at this year's inflation trend, consumer price inflation started the year hovering above the 2-percent range.
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compound 악화시키다, 더 심각하게 만들다
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Inflation slowed by the summer, hitting a yearly low of 1.7 percent in August due to temporary factors. However, inflation started creeping up again in the fourth quarter, with prices in both October and November 2.4% higher than the year before. Despite this recent volatility, the central bank is maintaining its baseline forecast for next year at 2.1 percent. The BOK expects stability because the current economic recovery is led by the IT sector, which tends to have a limited immediate impact on general consumer prices. However, the exchange rate remains a critical variable.
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critical variable 대단히 중요한 변수
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The bank's analysis shows that if the won-dollar rate persists around the 1,470-won level, inflation could exceed its forecast and rise to the mid-2 percent range. Governor Rhee also took the opportunity to address the weakness of the Korean won in detail. He clarified that the current situation is not a "financial crisis" in the traditional sense where banks fail or the nation faces default. However, he admitted that the continued weakness of the won is deeply concerning due to its social impact.
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default 채무 불이행
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"I completely disagree that this is a traditional financial crisis But in other respects, I would call it a crisis and I am deeply worried. The current exchange rate has a significant impact on inflation. Furthermore, when rates rise like this, the divide between those who benefit and those who lose becomes extreme." Governor Rhee emphasized that considering this potential for "growth polarization," the current exchange rate level is far from reassuring and requires vigilance to prevent social discord. Kim Do-yeon, Arirang News.
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reassure 안심시키다
vigilance 경계, 조심
discord 불일치, 불화
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