South Korea's trade prices surged in December, pushing consumer inflation near the central bank's target.

South Korea saw a significant rise in both export and import prices in December 2024, fueled by a weakening won and high global oil prices. Import prices surged 7% year-on-year, while export prices increased by 7.0% year-on-year. Consumer inflation reached 1.9%, nearing the Bank of Korea's 2% target, potentially leading to interest rate cuts to support the economy.

2 months ago
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