Economy 21 minutes ago (Oct 04, 2022 08:41PM ET)
© Reuters. FILE PHOTO: A customer picks up a lunch box at a convenience store in Seoul, South Korea, June 24, 2022. Picture taken June 24, 2022. REUTERS/ Heo Ran
SEOUL (Reuters) – South Korea’s central bank said annual consumer inflation is expected to stay high at the 5-6% levels, with upside risks, for a considerable period of time.
The Bank of Korea cited high dollar-won exchange rates and major oil producers’ production cuts as upside risks, after a meeting on Wednesday to discuss recent inflation conditions and outlook.
S.Korea central bank expects inflation to stay high for lengthy period