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May had seen South Korea’s inflation rate dropping below zero for the first time in eight months, data showed on Tuesday. The decline was mainly from the novel coronavirus crisis dragging domestic demand and crude prices.
The consumer price index (CPI) fell 0.3% in May from a year earlier, placing below the 0.2% contraction rate predicted in a Reuters survey. This came to be the second time the index had dropped to an all-time low record ever since the country began releasing data in 1965.
On a monthly basis, the index recorded a 0.2% decline in May, hitting the forecast of a 0.2% drop. Moreover, the core CPI retained its level at 0.1% from a year earlier.
The export-dependent country has taken a step in stabilizing its financial markets should the United States and China dispute bring in more volatility.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
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