South Korea's consumer inflation increased to 2.6% year-on-year in July, influencing the Bank of Korea's policy plans.

South Korea's consumer inflation rose 2.6% year-on-year in July, up from 2.4% in June, driven by higher food and non-food product prices. This puts pressure on the Bank of Korea to reconsider its policy plans, as officials monitor US monetary trajectory and factor in rising home prices, a resilient economy, and currency depreciation. The next policy meeting is scheduled for August 22.

August 02, 2024
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