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S. Korea July CPI surges again by 4.7%

08-01-2011 16:36 BJT

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Inflation in South Korea climbed higher again in July, putting pressure on the central bank to hike interest rates.

The consumer price index, CPI, surged 4.7 percent from a year ago, above expectations for a 4.4 percent rise. That's also the highest figure since March this year, and remains above the central bank's target range. Meanwhile, annual core inflation of 3.8 percent is the highest since May 2009.

Analysts say the numbers are quite shocking, even taking into account effects from recent heavy rainfall. They also say that continued growth in core inflation signals a likely interest rate increase in August.

The consumer price index, CPI, surged 4.7 percent from a year
ago, above expectations for a 4.4 percent rise.

Editor:Li Wanran |Source: CNTV.CN

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