SEOUL (Reuters) – South Korea’s consumer prices rose more than expected in June to hit the fastest pace in nearly 24 years, government data showed on Tuesday.
The consumer price index (CPI) rose 6.0% in June from a year before, speeding up from a 5.4% rise in the previous month and exceeding 5.9% tipped in a Reuters poll.
It was the fastest annual rise since November 1998 and stood above the central bank’s 2% target for a 15th consecutive month.
The index rose 0.6% on a monthly basis, compared with a 0.5% rise seen in the survey.
(Reporting by Jihoon Lee; Editing by Kim Coghill)
