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Report: Domestic Demand Continues Improvement, Inflation Concerns Persist

Write: 2021-06-11 13:37:24Update: 2021-06-11 15:27:42

Report: Domestic Demand Continues Improvement, Inflation Concerns Persist

Photo : YONHAP News

Domestic demand has improved for the second straight month, the government said, though concerns over inflation amid a hike in raw material prices remain. 

In its monthly assessment report on Friday, the Finance Ministry said exports and investment maintained their solid recovery momentum in May, while domestic demand has continued to improve.

Credit card usage rose six-point-eight percent on-year last month, marking the fourth straight month of gains. Sales at department stores surged 17-point-three percent, while online sales jumped 48-point-four percent.

The consumer sentiment index(CSI) increased three points on-month to 105-point-two, continuing a five-month streak in gains. 

Consumer prices, meanwhile, grew two-point-six percent on-year in May, the fastest rise in more than nine years, due to high prices of farm and oil products.

While the report cast worries over inflation, a senior ministry official said it is doubtful whether price pressure will be sustainable.

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