A pedestrian passes by automated teller machines of major banks installed in Seoul on Dec. 21, 2025. [YONHAP]
Inflation is projected to remain above the 3 percent level for the time being as the impact of high oil prices spills over into other sectors of the economy amid prolonged Middle East tensions, the central bank said Tuesday.
"The inflation rate for June is expected to remain at a level similar to that of May, as the pace of petroleum product prices remains elevated," said Lee Ji-ho, director of the research department at the Bank of Korea (BOK), during a meeting to review inflation trends.
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"The rise in consumer prices in May was significantly larger than in April, as the increase in petroleum product prices accelerated and service prices rose, particularly for travel-related services such as domestic and international airfares."
