South Korea Inflation Cools in June, Backing BOK Extended Pause
07/04/2023 12:18
South Korea’s inflation eased for a fifth month in June, bolstering the case for the central bank to hold its policy rate next week while it keeps a close eye on the deeper price trend.
Consumer prices rose 2.7% in June from the prior year.
Photographer: Woohae Cho/BloombergUpdated on
South Korea’s inflation eased for a fifth month in June, bolstering the case for the central bank to hold its policy rate next week while it keeps a close eye on the deeper price trend.
Consumer prices rose 2.7% in June from the prior year, the least since September 2021, according to data from the statistics office Tuesday. That was below economists’ expectations for a 2.8% increase and matched the lowest estimate in a Bloomberg survey. Core inflation, which excludes oil and agricultural prices, cooled for a third straight month to 4.1%, the slowest pace since May 2022.