Korea: Inflation rises in July
Inflation came in at 2.6% in July, up from June’s 2.4%, overshooting market expectations, and moving further above the Central Bank’s 2.0% inflation target. The increase was primarily driven by rising price pressures for transport.
Annual average inflation was unchanged at June’s 3.1% in July. Meanwhile, core inflation was stable, coming in at June’s 2.2% in July.
Lastly, consumer prices rose 0.25% from the previous month in July, contrasting June’s 0.23% fall. July’s uptick was the highest reading since February.