Bank of South Korea says high inflation in the country will last longer than expected

The South Korean central bank (BOK) released a monetary policy report on September 8, which was submitted to the South Korean parliament, stating that high inflation in South Korea will last longer than expected. Economic players expect inflation to continue to rise at the current high inflation rate of 5-6%.

Inflation expectations in South Korea stood at 4.3% in August, as measured by consumers’ assessment of overall inflation over the next 12 months.

The expected inflation rate declined from a record 4.7% in July.

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