South Korea’s annual consumer inflation slowed to the mid-two percent range this year, marking a more subdued pace compared to 2023.
Data from Statistics Korea on Tuesday showed that the consumer price index – a measure of inflation – rose by 2-point-3 percent year-on-year.
This is the lowest rate since the onset of the COVID-19 pandemic in 2020, as it climbed to 2-point-5 percent in 2021 and peaked at 5-point-1 percent in 2022 before settling at 3-point-6 last year.
The price of fresh produce surged significantly this year jumping nearly 10 percent, and pushing inflation above the two percent target.
Source : Arirang TV, https://www.arirang.com/news/view?id=279479
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