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Korea Inflation February 2024

Korea: Inflation comes in at highest level since December 2023 in February

Inflation ticked up to 3.1% in February from January’s 2.8%. February’s result represented the highest inflation rate since December 2023. The reading was driven by rising prices for transportation.

Annual average inflation ticked down to 3.3% in February (January: 3.4%). Meanwhile, core inflation was unchanged, coming in at January’s 2.5% in February.

Finally, consumer prices increased 0.55% in February over the previous month, accelerating from January’s 0.39% rise. February’s figure was the sharpest increase in prices since August 2023.

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