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Inflation in South Korea in April increased
South Korean inflation continued to increase in April and reached an eight-month high.
The consumer price index rose by 1,5% in April compared with 1,3% in the previous month, according to statistics from the South Korean statistical service. Compared to the previous month, consumer prices rose by 0,1%, in March the increase was 0,2%, while The Wall Street Journal analysts expected an increase of 0,2%.
Experts from the South Korean Statistical Service attribute the increase in inflation to the "low base" effect; in April last year, prices for oil and other manufactured goods fell.
The result was below the expectations of analysts polled by The Wall Street Journal, who predicted an increase in the index to 1,6%.
The Central Bank of Korea predicts that consumer prices will rise 2014% in 2,1, up from 1,3% in 2013, the lowest rate in 14 years.
The Korean regulator has been keeping the key rate at the 2,5% mark since last May; the target value of the Central Bank is 2,5-3,5%.