South Korea's inflation rate rose to 3.1% YoY in February, driven by food and energy prices.
South Korea's inflation rate rose to 3.1% year-on-year in February, surpassing expectations, driven by increased prices of fresh food items and energy. The government aims to achieve a 2% inflation rate by the end of 2024. The Bank of Korea maintains a tight monetary policy stance amid rising inflation, supporting its view that monetary policy needs to stay tight in the face of sticky price growth.
March 05, 2024
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