Volltext verfügbar nach Anmeldung bzw. im Campus-Netz.
Love for Labels Makes Korea's Inflation Stickier, BOK Says.
In: Bloomberg.com, 2024-06-18, S. N.PAG
Online
serialPeriodical
Zugriff:
A study conducted by the Bank of Korea (BOK) has found that South Koreans' preference for luxury brands is driving inflation in the country more strongly than in other developed nations. This makes it challenging for monetary policy to control the rising costs of living. The study highlights that South Koreans' high preference for luxury clothes undermines price elasticity and allows global distributors to dominate the domestic market. Additionally, the study notes that South Korea has the highest per-capita spending on luxury brands and that luxury sales are concentrated in department stores that charge higher fees. The BOK suggests that structural reforms are needed to address the high cost of living in the country. The study also identifies agriculture and the limited farming land per person as another source of inflationary pressure. However, the impact of utility bills tends to be lighter in South Korea due to government subsidies. The BOK predicts that headline inflation will slow down by the end of the year. [Extracted from the article]
Titel: |
Love for Labels Makes Korea's Inflation Stickier, BOK Says.
|
---|---|
Autor/in / Beteiligte Person: | Kim, Sam |
Zeitschrift: | Bloomberg.com, 2024-06-18, S. N.PAG |
Veröffentlichung: | 2024 |
Medientyp: | serialPeriodical |
Schlagwort: |
|
Sonstiges: |
|