Korea: Inflation accelerates in June from May
Latest reading: Consumer prices increased 3.2% on a year-on-year basis in June, following a 3.1% rise in the prior month. June’s reading was the strongest since December 2023.
Relative to the prior month’s figures, there were higher price pressures for food and non-alcoholic beverages (+2.0% in annual terms vs +1.6% in May) and recreation and culture (+5.4% vs +5.0% in May). In contrast, there were milder price pressures for housing and utilities (+1.7% vs +1.8% in May), transportation (+11.1% vs +11.6% in May) and clothing and footwear (+2.6% vs +2.8% in May).
Meanwhile, core consumer prices rose 2.5% in annual terms in June, stable from the previous month’s reading.
Finally, consumer prices were up 0.06% in June in month-on-month terms, following a 0.46% rise in the previous month.