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Economics
Inflation & Prices

Korea’s Inflation Quickens, Keeping Rate-Hike Option Alive

  • Utility costs posted the biggest gains amid freezing weather
  • Bank of Korea set to meet later this month to assess inflation
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South Korea’s inflation accelerated again in January, keeping open the possibility of further central bank policy tightening even as the nation’s economy weakens.

Consumer prices advanced 5.2% from a year earlier, quickening from 5% in December, the statistics office reported Thursday. Core inflation, which excludes agricultural and oil-related products, came in at 5%, picking up from 4.8% and suggesting that underlying pressure remains strong.