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South Korea's May Inflation Hits Two-Year High Driven by Fuel Prices
South Korea's consumer prices rose by 3.1% in May, marking a two-year high, primarily due to soaring fuel costs. This acceleration in inflation has increased expectations for an imminent interest rate hike.
1 Jun, 23:15 — 1 Jun, 23:44
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Korea HeraldMostly Factual68d ago
Consumer prices up 3.1% in May on soaring fuel prices
South Korea's consumer prices rose more than 3 percent in May from a year earlier amid global energy price volatility following the Middle East war, data showed Tuesday. Consumer prices, a key gauge of inflation, increased 3.1 percent last month from a year earlier, according to data from the Ministry of Data and Statistics. It marked the fastest growth in 26 months after rising at the same pace in March 2024. Prices of industrial products rose 4.2 percent, driven largely by higher fuel prices.
By The Korea Herald
Read full article →channel-news-asiaMostly Factual68d ago
South Korea inflation hits two-year high, imminent rate hike in play
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First report: capital-bg · 1 Jun, 13:23|Full coverage: 3 · 10h|Window: 10h
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