Economics
Korea Inflation Stays High, Keeps Pressure on Central Bank
- Consumer price growth slows less than expected in January
- Rising oil and food prices have fueled Korean inflation
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South Korean consumer prices stayed well above the Bank of Korea’s target in January, keeping the pressure on policy makers to keep tightening as central banks around the world move to tamp down inflation.
Consumer prices rose 3.6% from a year earlier, edging down from a 3.7% gain in December, according to data Friday from the statistics office that ran hotter than economists had expected.