S.Korea June consumer inflation hits near 24-yr high, exceeds expectations


South Korea’s consumer costs rose greater than anticipated in June to hit the quickest tempo in practically 24 years, authorities information confirmed on Tuesday.

The consumer worth index (CPI) rose 6.0% in June from a yr earlier than, dashing up from a 5.4% rise within the earlier month and exceeding 5.9% tipped in a Reuters ballot.

It was the quickest annual rise since November 1998 and stood above the central financial institution’s 2% goal for a fifteenth consecutive month.

The index rose 0.6% on a month-to-month foundation, in contrast with a 0.5% rise seen within the survey.- Reuters

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