South Korea’s consumer sentiment rebounded in October as eased inflation and hopes for a rate cut may boost domestic demand, a central bank poll showed Wednesday.
The composite consumer sentiment index stood at 101.7 this month, up from the previous month’s 100, according to the survey conducted by the Bank of Korea (BOK), cited by Yonhap News Agency.
A reading above 100 means optimists outnumber pessimists.
The central bank said consumer sentiment was boosted this month amid hopes that moderated inflation and the central bank’s potential rate cut may help private spending recover.
Meanwhile, inflation expectations remained unchanged this month compared with the previous month.
The figures are closely watched, as their upward move could cause businesses to raise prices and people to ask for pay raises, thereby resulting in more upward pressure on inflation going forward.
Source: Qatar News Agency