Economic Indicators
S.Korea June consumer inflation hits near 24-yr high, exceeds expectations
2022.07.05 02:16
FILE PHOTO: A woman wearing a protective mask is seen at a fish market amid the coronavirus disease (COVID-19) outbreak continues in Seoul, South Korea April 5, 2020 REUTERS/Kim Hong-Ji
SEOUL (Reuters) – South Korea’s consumer prices rose more than expected in June to hit the fastest pace in nearly 24 years, government data showed on Tuesday.
The consumer price index (CPI) rose 6.0% in June from a year before, speeding up from a 5.4% rise in the previous month and exceeding 5.9% tipped in a Reuters poll.
It was the fastest annual rise since November 1998 and stood above the central bank’s 2% target for a 15th consecutive month.
The index rose 0.6% on a monthly basis, compared with a 0.5% rise seen in the survey.
