Korea’s food consumer prices rose at the second-fastest pace among member countries of the OECD.
Inflation is quickly up in contrast to a year ago, when there were concerns about deflation. The consumer price index in April gained 2.3 percent from a year ago, the strongest since August 2017. The number exceeds the Bank of...
In local restaurants, it's standard for an extra bowl of rice to cost 1,000 won (90 cents) and a bottle of makgeolli, Korean rice wine, to set you back 3,000 won. Goodbye to all that.
According to Statistics Korea on Tuesday, consumer prices in April rose 2.3 percent year-on-year, the sharpest increase since August 2017's 2.5 percent.
Gold is glittering again as economic fear mounts and Koreans rush toward safe assets.
It's too early to worry about inflation and raise interest rates, Bank of Korea Governor Lee Ju-yeol said in a written statement to reporters Tuesday.
Electricity bills will be unchanged in the second quarter despite the fast rise in the international price of crude oil.
From crops to copper to crude, commodity prices are on the rise, increasing concern about inflation and a potential interest rate hike that has been off the table for the past year as many governments battle the global health crisis.
The Bank of Korea is likely to keep monetary policy loose despite increasing signs of inflation as the economy recovers from the pandemic.
The Bank of Korea on Thursday projected a 3 percent economic growth rate for 2021, maintaining its estimate from November last year, as it held rates steady and dismissed inflation as a concern.