South Korea’s consumer price index fell in August for the first time in 7 months

According to South Korea’s National Bureau of Statistics, the consumer price index (CPI) rose 5.7% year on year in August. This was a slower increase than in July (6.3%) and below analysts’ expectations of a 6.1% rise.

South Korea’s CPI slowed in August for the first time in 7 months.

The global drop in oil prices signals that inflation may have peaked in South Korea.

Month-on-month, the CPI fell 0.1% in August, the first decline since November 2020, below analysts’ expectations for a 0.3% increase.

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