South Korea April consumer inflation +2.6% y/y, as expected

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SEOUL, May 6 : South Korea's consumer prices rose in April at the steepest pace in nearly two years, as expected, on a surge in oil prices triggered by the Middle East conflict.

The consumer price index rose 2.6 per cent in April from a year earlier, after rising 2.2 per cent in March, government data showed on Wednesday, matching the median 2.6 per cent rise forecast in a Reuters poll and marking the biggest year-on-year rise since July 2024.

On a monthly basis, the index rose 0.5 per cent, after rising 0.3 per cent in the previous month, as prices of petroleum products jumped 7.9 per cent over the month, according to the Ministry of Data and Statistics.

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