Gov’t says low inflation comes more from the supply side than from demand;…

now first five minutes of economy and
Finance Kim Jung bump says a weak inflation data in recent months has not
led to concerns about deflation just yet at an economic policy meeting between
the Finance Ministry and the Bank of Korea Tuesday morning the Vice Minister
said low consumer prices in the last eight months come more from the supply
side rather than from demand as global oil prices and agricultural goods prices
drove down consumer prices Bank of Korea senior deputy governor you mention also
said low inflation has been seen widely across major economies since the global
financial crisis and that population trends and e-commerce have contributed
to lower consumer prices he said that the BOK will exchange information with
the Finance Ministry regularly to further monitor the changes in consumer
prices and the effect on the local economy

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