South Korean Inflation Accelerates to 3-Year High of 5.3%
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South Korea’s inflation accelerated to the fastest pace in three years in August on rising food prices, adding to pressure on the central bank to increase borrowing costs.
Consumer prices rose 5.3 percent from a year earlier, after a 4.7 percent gain in July, Statistics Korea said today in Gwacheon, south of Seoul. That was higher than any forecast by 11 economists, whose median estimate was 4.8 percent in a Bloomberg News survey. Prices rose 0.9 percent from July.