Consumer prices rise 2.1% in July on higher industrial goods, service costs

Korea's consumer prices grew by more than 2 percent for the second consecutive month in July, mainly driven by higher costs of industrial goods and services, government data showed Tuesday. Consumer prices, a key gauge of inflation, increased 2.1 percent from a year earlier last month, according to the data from Statistics Korea. Inflation had remained above the Bank of Korea's 2 percent target for four consecutive months through April before slowing to 1.9 percent in May. It then edged up to 2.2 percent in June. The statistics agency said the July gain was mainly due to the continued depreciation of the Korean won, which pushed up import prices for industrial goods. A steady increase in service prices also added to inflationary pressure.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times