Inflation expectations dropped for the second consecutive month in September.

According to the Bank of Korea(BOK) on Tuesday, expected inflation, measuring consumers’ estimates on price increases in the next 12 months, stood at four-point-two percent this month, down one-tenth of a percentage point from August.

The index fell for the second straight month after soaring to an all-time high of four-point-seven percent in July.

The expected key interest rate index, representing future expectations of the benchmark rate, dropped two points to 147, while the expected housing prices index slipped by nine points to a new low at 67.

The Composite Consumer Sentiment Index rose by two-point-six points from August to 91-point-four, with the sub-100 reading indicating that pessimists still outnumber optimists.

The latest BOK survey was conducted on about 24-hundred households nationwide between September 13 and 20.