Korea: Inflation hits highest level since March in August
Consumer prices increased 0.61% in August over the previous month, contrasting July’s 0.01% drop. August’s result was the sharpest increase in prices since January, and was driven by soaring prices for food and non-alcoholic beverage and a moderate increase in housing and utilities prices.
Inflation increased to 0.7% in August, which was up from July’s 0.3%. August’s result was the highest inflation rate since March. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 0.4% in August (July: 0.3%). Lastly, core inflation ticked up to 0.8% from July’s 0.7%.