South Korea’s July consumer price index is up 6%

As announced by the South Korean Ministry of Finance on Friday, consumer prices in South Korea rose by 6% in July for the second month in a row. This was caused by agricultural products during the harsh weather.

The trade balance is expected to show a deficit this month as energy imports surge.

Economists expect the consumer price index to rise 6.3% in July from a year earlier. This was the fastest rate in nearly 24 years, with a trade deficit for the fourth consecutive month.

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