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The Economic Times
The Economic Times
Anupam Nagar

Global Market: South Korea's July inflation cools below expectations as oil prices ease; rate hike bets remain

Inflation Oil South Korea The Bank of Korea United States

South Korea's consumer inflation eased to a three-month low in July and came in below market expectations, driven by lower oil prices, although policymakers remain cautious about lingering inflationary pressures, according to government data released on Tuesday, as per a Reuters report.

Data from the Ministry of Data and Statistics showed the consumer price index (CPI) rose 2.8% year-on-year in July, slowing from 3.2% in June. The reading was also below the 3.0% increase forecast by economists in a Reuters poll.

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