Forecast of inflation peaking in October called into question
High inflation in Korea is supposed to finally start to peak in October as addressed by the finance minister and central bank governor. But such an outlook for an inflation peak is seriously threatened, due mainly to soaring import prices driven by the persistently strong dollar, a possible surge in global oil prices and planned utility bill hikes. To make thing worse, the prices of agricultural products have been rising in the wake of record rainfall in late summer, while the manufacturers of instant noodles, bread, coffee, milk and other groceries have begun to hike product prices.
Source: koreatimes.co.kr
