ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Inflation

South Korea inflation hit nearly 24-year high in June

CPI climbed 6%, heaping pressure on President Yoon and big manufacturers

A worker cuts meat at a restaurant in Seoul. The Bank of Korea will determine whether an interest rate hike in July will help tame inflation.   © Reuters

SEOUL -- South Korea's inflation rate reached a nearly 24-year high in June as the country struggles to cope with soaring energy and food prices, official data showed on Tuesday.

Statistics Korea said the consumer price index rose 6% on the year last month, the highest level since November 1998 during the Asian financial crisis. The CPI rose in almost every sector, with petroleum products jumping 39.6% and restaurants climbing 8%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more