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Korean stock markets struggled and consumer sentiment fell for the first time in four months due to rising prices and a slowdown in the real estate market in August, according to a survey released by the Bank of Korea. Housing price expectations, which had been on an upward trend since April, dipped slightly in August. The Consumer Confidence Index (CCSI) dropped to 104.5 from the previous score, a decrease of 2.3 points.

Bank of Korea official explained that despite favorable economic flows, the decline in consumer sentiment was due to concerns about the domestic market, accumulated price hikes, and the adjustment of domestic stocks. The index measures the current and future outlook of the economy in six key areas, with a score above 100 indicating a more optimistic view than the long-term average (2003-2025).

The current living standards index, which reflects the impact of falling stock prices, fell by one point to 92 from the previous score. The employment outlook index, which accounts for job opportunities, particularly in AI-related industries, saw a further decline of three points, reflecting ongoing youth unemployment issues. The housing price outlook index fell by two points, largely due to the impact of the revised tax system and housing supply measures.

The inflation outlook is expected to remain high at 2.7% for the next year, driven by ongoing geopolitical tensions, rising interest rates, and a weakening of the won against the dollar.