The Seoul skyline.
Mongkol Chuewong | Second | Getty Photos
South Korea’s shopper inflation quickened to a six-month excessive in January, authorities information confirmed on Wednesday, coming in increased than market expectations on stress from a weak native forex.
The patron value index (CPI) rose 2.2% from a 12 months earlier, after climbing 1.9% within the earlier month, in keeping with Statistics Korea. That in contrast with a median 1.97% enhance forecast in a Reuters ballot.
Inflation accelerated for the fourth straight month and marked the quickest since July 2024. It was additionally increased than the central financial institution’s medium-term goal of two%.
Final month, the Financial institution of Korea unexpectedly stored its coverage rate of interest unchanged, after two straight conferences of fee cuts, signaling that it wanted to attend for the home political turmoil weighing on the forex to stabilize earlier than it may make additional cuts.