Inflation & Prices
Korea’s Pace of Consumer Inflation Eases to Slowest in 25 Months
- Core inflation growth slows to 3.3% in July from 3.5%
- Food and beverage prices rise while transportation costs fall
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South Korea’s pace of inflation eased in July to the slowest in more than two years, offering more evidence that the central bank is gaining ground in its effort to cool price growth.
Consumer prices advanced 2.3% from a year earlier, slowing from June’s 2.7% gain, the statistics office reported Wednesday. Economists had predicted inflation would come in at 2.4%.