Korea and Japan face growing pressure to raise interest rates as growth and inflation accelerate together, while Taiwan still has room to keep rates unchanged despite a semiconductor boom, with inflation remaining relatively tame.

Korea's consumer prices rose more than 3 percent in May from a year earlier amid global energy price volatility following the Iran war, data showed Tuesday.

Asia Intelligence Brief for Tuesday: South Korea's inflation jumped to 3.1%, a two-year high, and the central bank is signalling a rate hike; Indonesia's prices are climbing too…

Oil-driven inflation from tensions in the Middle East appears to be hitting Korean consumers hard as it pushes inflation above 3 percent for the first time in 26 months.

South Korea's consumer price growth topped 3% in May for the first time in 26 months as a prolonged Middle East war drove up global oil prices.

Korea and Japan face growing pressure to raise interest rates as growth and inflation accelerate together, while Taiwan still has room to keep rates unchanged despite a…