Service Sector Inflation Rises Significantly, Core CPI Declines

Service sector inflation has seen a notable increase, according to Jin10. Excluding housing, core service inflation, referred to as 'super core,' rose by 0.56% month-on-month, marking the largest increase since January of the previous year. Despite this significant monthly rise, the year-on-year increase in core service inflation fell to 2.67%, the lowest level since March 2021. This decline is likely a key factor in the core CPI annual rate dropping from 2.6% to 2.5%, reaching its lowest point since March 2021.