South Korean inflation climbs to 13-year high
Central bank concerned about record price rises
South Korea’s year-on-year consumer price index rose to 4.8% in April, the highest in over a decade, up from previous highs of 4.1% in March. Meanwhile, the produce price index was 8.8% in March, Bank of Korea data shows.
The central bank convened an internal meeting to address inflation and surrounding expectations, Reuters reported.
South Korea was the first major Asian economy to begin raising interest rates in August last year, putting an end to a period of record-low interest rates
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