People shop at an Olive Young store in Seoul, South Korea, August 7, 2025. REUTERS/Kim Hong-Ji
02 Jun 2026 07:15AM
SEOUL, June 2 : South Korea's consumer inflation quickened in May to a more than two-year high, exceeding market expectations, on high oil prices triggered by the Middle East conflict. The consumer price index rose 3.1 per cent from a year earlier, the biggest jump since March 2024, after rising 2.6 per cent in April, according to the Ministry of Data and Statistics. It was higher than the median 3.0 per cent increase forecast in a Reuters poll. The index rose 0.5 per cent over the month, the same pace in the previous month but faster than the 0.3 per cent rise expected by economists.
Source: Reuters
