South Korea July inflation accelerates; staying at nine-year peak


August 2, 2021

SEOUL (Reuters) – South Korea’s consumer prices rose 2.6% in July from a year earlier, government data showed on Tuesday, accelerating from a 2.4% increase in June and beating a 2.4% increase tipped in a Reuters survey.

That was also same as a 2.6% rise in May when it marked the fastest pace since April 2012, and continued to stay above 2% for a fourth straight month.

Month-on-month inflation rose 0.2%, rebounding from June’s minus 0.1%, when it fell into negative territory for the first time in seven months.

Meanwhile, core inflation rose 1.2% year-on-year, unchanged from June.

(Reporting by Joori Roh; Editing by Kim Coghill)

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