South Korea’s consumer inflation ticked up in January to a three-month high, against economists’ expectations, official data showed. | Reuters
SEOUL – South Korea’s consumer inflation ticked up in January to a three-month high, against economists’ expectations, official data showed on Thursday.
The consumer price index was 5.2-percent higher in January than in the same month a year before, rising faster than the 5 percentseen in December, according to Statistics Korea. Economists had expected the pace of growth to stay steady at 5percent.The index was 0.8 percent higher than in December, when the monthly rise was 0.2 percent. A 0.5 percent increase from December was tipped in a Reuters poll.
By product category, public utility costs rose 4.6 percent from the previous month while agricultural products jumped 6.2 percent, leading the index higher. Petroleum products fell 2.8 percent.
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