Korea's CPI rises 2.5% in a year

South Korea's consumer price index (CPI) rose to within the central bank's inflation target in June, according to preliminary figures from the country's National Statistical Office.

The increase was below the market consensus which forecast a 2.6% gain, but above May's figure of 2.3%. The Bank of Korea's inflation target is in the range of 2.5% and 3.5% for 2007-2009.

The rise was fuelled by higher service fees, and housing rents plus rising costs of industrial goods and fruit.

Observers

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