Korea’s Consumer Prices Rise 4.5% in February

We understand what is mainly driving inflationary pressure around the globe. This will continue.

From Yonhap News:

South Korea's consumer prices made their biggest jump in 27 months in February mainly due to soaring food and energy-related product costs, adding to concerns that mounting inflationary pressure could undercut the nation's economic recovery, a government report showed Wednesday.

According to the report by Statistics Korea, the country's consumer price index surged 4.5 percent last month from a year earlier, marking the sharpest growth since November 2008. The figure is higher than the 4.1 percent spike in January, and it also stayed much higher than the government's 2011 inflation target of 3 percent.

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