Korea: Inflation comes in at highest level since December 2021 in February
Consumer prices increased 0.58% over the previous month in February, a smaller increase than the 0.62% increase recorded in January. Looking at the details of the release, prices for housing and utilities increased at a faster pace in February while prices for transportation rebounded. Nonetheless, food price pressures slowed, dampening the final reading.
Inflation edged up to 3.7% in February from January’s 3.6%. February’s reading represented the highest inflation rate since December 2021. Annual average inflation rose to 2.9% in February (January: 2.7%). Lastly, core inflation ticked up to 2.9% in February, from the previous month’s 2.6%.