Monday, December 31, 2007

South Korean Inflation - now up to 3.6 percent


South Korea's consumer price index accelerated further in December to 3.6 percent year-on-year, breaching the central bank's target range as high crude oil prices pushed up the cost of industrial goods, the National Statistical Office said Monday.

The CPI growth figure was faster than the consensus forecast for a 3.5 percent increase for December. In November, the inflation indicator also stood at 3.5 percent.