According to central bank data released Wednesday, consumer sentiment in South Korea increased in April as a result of the easing of social-discrimination laws.

According to the Bank of Korea, the composite consumer sentiment index (CCSI) reached 103.8 in April, up 0.6 points over the previous month (BOK).

The index rose for the second month in a row when the government dropped all anti-COVID-19 restrictions, including a commercial curfew and a cap on private meetings, with the exception of the mask requirement, which took effect on April 18. According to South Korean health officials, the Omicron variant-driven revival peaked in the middle of March.

Sub-indices had mixed outcomes; the index for present living conditions improved by 2 points, while the prognosis for living conditions fell by 1 point in April compared to the previous month.
Future household income and spending remained constant at 99 and 114, respectively, although the present economic condition index rose three points.

Inflation expectations, which measure consumers’ expectations for headline inflation over the next 12 months, jumped 0.2 percentage points in April to 3.1 percent.

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