South Korea Consumer Sentiment Index Rises to 106.6 in June

The Bank of Korea reported Tuesday that South Korea's composite consumer sentiment index rose to 106.6 in June, up 0.5 points from May. The index remained above the 100-point threshold for a second consecutive month after climbing 6.9 points in May. The subindex measuring assessment of current economic conditions reached 86, a gain of 3 points from the prior month.

The subindex for outlook on future economic conditions slipped 1 point to 92. "Despite slowing economic conditions stemming from rising inflation, solid exports and the stock market rally helped consumer sentiment rise for the second consecutive month," the central bank said.

South Korea's exports surged 60.4 percent year-on-year in the first 20 days of June, driven by semiconductor shipments tied to artificial intelligence demand.

Consumer prices increased 3.1 percent year-on-year in May, the fastest pace in 26 months. The Bank of Korea stated it will make proactive efforts to tame inflation.