[Weekly Outlook] Focus on Whether Import Prices Rise for Two Consecutive Months... Q3 Household Trends Announcement

[Asia Economy Sejong=Reporter Dongwoo Lee] Amid ongoing domestic and international economic uncertainties due to high-intensity tightening by major countries including the United States, attention is focused on whether import prices will rise for the second consecutive month this week.

According to related ministries on the 13th, the Bank of Korea will announce the 'October Export and Import Price Index' statistics on the 15th.

Previously, in September, the won-dollar exchange rate surged sharply, causing the import price index (154.38) to rise by 3.3% compared to August. Unlike July (-2.6%) and August (-0.9%), this marked a shift to an upward trend after three months compared to the previous month, and since the exchange rate remained at a high level last month as well, it is being watched whether the upward trend continued.

Generally, when import prices rise, they affect domestic prices with a lag of several months.

The Bank of Korea is also scheduled to announce the 'September Money and Liquidity' statistics on the 16th. Due to the impact of interest rate hikes, the scale of regular savings and time deposits increased by the largest margin ever, with the money supply rising by about 25 trillion won in August. However, demand deposits, which are settlement-type savings, decreased by the largest margin in history.

As the impact of the Bank of Korea's interest rate hikes continues, it is expected that the concentration of savings and time deposits deepened in September as well.

On the 11th, the KOSPI opened sharply higher influenced by the surge in the New York stock market, shown here at the Hana Bank dealing room in Jung-gu, Seoul. On that day, the KOSPI opened at 2466.90, up 64.67 points (2.69%) from the previous trading day. The won-dollar exchange rate started at 1347.5 won, down 30.0 won from the previous trading day. Photo by Kim Hyun-min kimhyun81@

On the 17th, Statistics Korea will announce the results of the third-quarter Household Income and Expenditure Survey. The household income and expenditure survey is a statistic that allows examination of indicators such as household income, expenditure, and distribution. Previously, in the second quarter, the average monthly income per household was 4,831,000 won, an increase of 12.7% compared to the same period last year. Excluding the effects of price increases, it rose by 6.9%.

Both nominal and real incomes showed the highest growth rate among all quarters since the related statistics began in 2006.

Statistics Korea will announce the 2021 Housing Ownership Statistics on the 15th. The housing ownership statistics are annual statistics presented using administrative data related to housing such as building registers, official housing prices, property tax data, and population, household, and housing data from the Population and Housing Census.

This is the most comprehensive statistic released by Statistics Korea related to the housing market, and it is useful for examining the status of multi-homeowners and the gap between high and low housing prices through this statistic.