5Monthly consumer prices 3.1% recorded, 26months later 3entering the % range

5The monthly consumer price growth rate was recorded at 3.1%. The month-on-month growth rate was 0.5%. 3The entry into the % range came after 26months. These figures were released as the result of statistical tabulation.

Supply shocks caused by the war in the Middle East sharply pushed up petroleum product prices. Among petroleum products, items that rose by more than 20% were reported. Some statistics calculated that there were items among petroleum products that rose by approximately 24%. The impact of rising oil prices on prices overall was noted.

Industrial products and living costs were also found to have risen together. Consumer prices have seen the extent of their increase expand for 2months since the low in 3consecutive months. Statistically, the low in 2was recorded at 2.0%. The pattern shows price pressures spreading across industries.

The Bank of Korea 7mentioned the possibility of a rate hike in connection with the monthly policy rate decision. Reports said the central bank’s stance is tilting toward the policy rate. Future rate decisions will be made with inflation indicators as a key variable.

Among households, concerns have been raised about a growing burden on ordinary people and vulnerable groups. It has been pointed out that the burden of living expenses and energy costs is increasing. The government is reportedly reviewing related measures.

Markets and industries are examining the future policy direction and its impact on corporate performance based on oil prices and inflation indicators. Reports indicate a trend toward responding after checking the relevant statistics and the Bank of Korea’s decision. When additional indicators released in the future are added, the trend in inflation may be reassessed.