I used the word "queer" recently in a different thread as I feel like that's the term du jour these days, and nobody called me out or corrected me on it, but I did wonder afterward if that's something gay men and women use between themselves and is deemed offensive for outsiders. Really, that article that I linked to about Jewish people reclaiming the word Jew is what got me thinking about this, and perhaps made me unsure of the language I use. Most of my comments *are* throw away lines that don't really contribute to the conversation in a meaningful way, so if that's trolling, I could see how you might accuse me of trolling now, especially as my question was only tangentially related to the OP, but slight derail that it was, the question was sincere. I even mocked the use of the word "Homo". I actually thought I took some pains to avoid being so, and admitted my ignorance if I still inadvertently was. I hope anything I said wasn't too incendiary either.
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To espouse a view you don't really subscribe to just for the sake of stirring up controversy? That's not what I was trying to do. Also, based on recent higher-than-expected price gains in underlying pipeline prices and Korean won depreciation, we are also substantially revising up our annual CPI forecasts to 4.6% (vs current 3.6%) in 2022 and to 3.0% (vs current 2.5%) in 2023.I don't think I was trolling, but I'm not really sure what exactly that term really means. Therefore, we expect BoK to announce a 25bp hike in May, July and November. As BoK will not hold a policy decision meeting in June, more aggressive Fed hikes increase the probability of the BoK's rate action in May. Additionally, our US team now expects the Federal Reserve to deliver a 75bp hike in June after raising 50bp in May, with the terminal rate reaching 3.25% by the end of 2023. Rental for housing prices have risen at a slower pace since the beginning of the yearīased on higher-than-expected CPI and better-than-expected 1Q22 GDP results, we think that BoK will probably pay more attention to curbing inflation in the near future. Housing rents have shown some signs of moderation, falling to 2.0% (vs 2.1% in January) as mortgage rates for rental have increased since the beginning of the year. Rents are expected to subside thanks to a mortgage rate hike.The government's fuel tax cut (expanding the tax cut by 30%), which started this month and will continue for the next three months, will help in slowing down fuel price gains.While we expect the headline CPI to rise above 5% in 2Q and 3Q, we expect the monthly gain to moderate gradually in the coming months, mainly for two reasons: Gains in service prices are more broadly basedĬEIC Rents are key to watch in the coming months However, we expect the reopening effect to normalise within a few months, and we do not expect a labour shortage to come yet, so service sector price gains will be adjusted accordingly. With the reopening of services in late March, labour-intensive services such as housekeeping, nursing, and apartment management expenses rose significantly, indicating some wage increases in low-skilled services. Eating out prices stayed at an elevated 6.6% for the second month, taking a pause after rising sharply in March, while other personal services continued to increase.
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Service prices also rose firmly in April with the price gains more broadly based. Service prices increased more broadly in April We expect higher utility costs to remain through 2023 and the lingering impact will keep CPI above the Bank of Korea's (BoK's) target for 2023.
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The government has suppressed additional utility price increases so far, but given that global energy prices soared even higher this year, eventually, higher bills will be delivered at the end of this year or early next year. City gas price hikes are scheduled in May, July, and October while electricity rates will go up in October. Utilities such as electricity, gas, and water jumped to 6.8% in April (vs 2.9% in March) and are set to increase further throughout this year, to reflect the rise in raw material costs last winter. CPI jumped to near 5% in AprilĬEIC Utilities are expected to rise further in the near future Price gains in petroleum (+34.4%) and manufactured food (+7.2%) were most significant on the back of higher energy and food prices, yet the core CPI (excluding agricultural and oils) also rose 3.6% (vs 3.3% in March), the highest since December 2011. The monthly gain (0.7% month-on-month, seasonally-adjusted) has accelerated for five months in a row. Today's April CPI outcome of 4.8% year-on-year (vs 4.1% in March) was a surprise and was well above the market consensus of 4.4%. ( MENAFN- ING) CPI is at its highest level in 13 years