SEOUL : South Korea's annual consumer inflation accelerated to 3.4 per cent in August while the month-on-month rate was the fastest since early 2017, which should keep policymakers on alert for any sustained uptick in prices.The Bank of Korea (BOK) last month held interest rates steady for a fifth straigh
SEOUL : South Korea's annual consumer inflation accelerated to 3.4 per cent in August while the month-on-month rate was the fastest since early 2017, which should keep policymakers on alert for any sustained uptick in prices.
On a monthly basis, the consumer price index rose 1.0 per cent in August, after gaining 0.1 per cent in the prior month, official data showed on Tuesday, beating economists' median forecast for a 0.3 per cent rise in a Reuters survey. The BOK has said consumer inflation is likely to accelerate to around 3 per cent in August and September, before easing again, meaning the latest figures should not come as a surprise to policymakers.
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