Inflation in South Korea declined for the fifth consecutive month in June

The data showed that the consumer price index in South Korea declined for the fifth month in a row, as it fell to 2.7% in June compared to the same period last year, after inflation rose by 3.3% in May, which is the lowest level since September 2021.

Core inflation, which excludes volatile food and energy prices, eased to 3.5% in June from 3.9% in May, the slowest annual rise since May 2022. Prices of petroleum products fell 4.0% while utility prices rose 2.2%, and prices for services rose 3.3%. % over last year. South Korea's central bank has kept its monetary policy unchanged since its last rate hike in January and its tightening campaign is widely expected to end when the bank next meets on July 13.