Thursday, October 6, 2022

South Korea’s finance minister says that the inflation rate can up to 6% in the next few months, how will it turn?

The deputy prime minister and minister of economy and finance of South Korea Mr. Choo Kyung-ho said that South Korea’s inflation rate could hit 6% this month. Consumer prices could rise 6% for July and July to August month 2022.

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What did Choo Kyung-ho say about South Korea’s Inflation in June 2022?

During a television interview on Sunday, the deputy prime minister and minister of economy and finance of South Korea Mr. Choo Kyung-ho said that the government is primarily focusing on stabilizing consumer prices but the inflation will likely continue for an extended period for the year 2022.

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He also says that the current situation is due to the impact of external factors. He said that “we are inevitably being affected by rising international crude oil prices, commodity prices, and international grain prices”.

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South Korea Inflation May 2022 Rise

If it happens then the consumer prices rise more than 6 percent then this rise would be the first after 24 years. In last month the consumer price has risen 5,4 percent which is also very high as compared to the last 14 years.