South Korean Consumer Price Index Surprises with Strong Growth in June

Monday, 1 July 2024, 23:05
The South Korean Consumer Price Index for June exceeded expectations, showing a monthly increase of 0.2% and a year-on-year growth of 2.4%. Despite the positive figures, the year-on-year rise is the slowest since July of 2023. This unexpected performance indicates a potential shift in the country's inflation trend, raising questions about the factors influencing consumer prices.
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South Korean Consumer Price Index Surprises with Strong Growth in June

South Korean CPI Report

The South Korean Consumer Price Index for June surpassed forecasts, registering a 0.2% m/m increase and a 2.4% y/y growth.

Key Takeaways:

  • Positive Growth: The CPI exceeded expectations with strong performance in June.
  • Slowest Increase: The year-on-year growth of 2.4% marks the slowest rise since July 2023.

This unexpected data may indicate a changing inflation trajectory in South Korea, prompting a closer examination of economic factors impacting consumer prices.

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