Consumer sentiment falls by most in 1 year amid inflation, weaker won

Korea's consumer sentiment fell by the most in about a year in December due to rising inflationary pressure and the weakening local currency, the central bank said Wednesday. The composite consumer sentiment index (CCSI) slid to 109.9 this month, down 2.5 points from November, according to a survey by the Bank of Korea (BOK). It marked the sharpest decline since December 2024, when the country was reeling from political turmoil following then President Yoon Suk Yeol's declaration of martial law. A reading above 100 indicates that optimists outnumber pessimists, while a figure below 100 signals the opposite. "The decline was driven by widening price increases in everyday necessities, such as agricultural and fisheries products and petroleum items," BOK official Lee Hye-young said. "Consumer concerns have also grown over external uncertainties, including heightened exchange-rate volatility and a reassessment of the artificial intelligence (AI) industry," the official added. Consumer inflation has picked up in recent months, rising from 2.1 percent in September to 2.4 percent in both October