The Bank of Korea's statement after the price evaluation meeting said that due to the base effect of last year's mobile communication fee discounts, consumer inflation in South Korea may rise in August, while the underlying price pressure is still high. The year-on-year increase in CPI in July slowed to 2.8% from 3.2% in June, mainly due to the easing of fuel and agricultural product price inflation after the government adopted stabilization measures. Core CPI accelerated from 2.5% to 2.6%, mainly driven by rising prices for IT equipment, electric vehicles, and travel-related services. The central bank said it will continue to closely monitor the inflation situation in view of the uncertainty brought about by the Middle East conflict and the continuing underlying price pressure.

The Bank of Korea's statement after the price evaluation meeting said that due to the base effect of last year's mobile communication fee discounts, consumer inflation in South Korea may rise in August, while the underlying price pressure is still high. The year-on-year increase in CPI in July slowed to 2.8% from 3.2% in June, mainly due to the easing of fuel and agricultural product price inflation after the government adopted stabilization measures. Core CPI accelerated from 2.5% to 2.6%, mainly driven by rising prices for IT equipment, electric vehicles, and travel-related services. The central bank said it will continue to closely monitor the inflation situation in view of the uncertainty brought about by the Middle East conflict and the continuing underlying price pressure.