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Market Update: South Korea Inflation Rises More than Expected
The annual inflation rate in South Korea increased to 2.6 percent in July of 2021 from 2.4 percent in the previous month and compared to forecasts of a 2.4 percent rise. Prices advanced faster for housing & utilities (2.3 percent vs 1.2 percent in June) and restaurants & hotels (2.4 percent vs 2.2 percent). On the other hand, food and non-alcoholic beverages prices increased at a softer pace (6.4 percent vs 6.5 percent). On a monthly basis, consumer prices rose by 0.2 percent in July, following a 0.1 percent decline in the prior month and compared with forecasts of a flat reading. source: Statistics Korea [/s2If]
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