S Korea July CPI seen rising in 6% range -vice Finance Minister

Gee Mong

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2022-07-29 09:22:32

S Korea July CPI seen rising in 6% range -vice Finance Minister

 

South Korea's consumer prices are expected to rise in the range of 6 per cent in July for a second month, pushed up by farm products amid unfavourable weather conditions, vice finance minister Bang Ki-sun said on Friday.

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The trade balance is expected to post a deficit for the month due to a surge in energy imports, Bang added.

Economists expect the consumer price index to rise 6.3 per cent in July from a year earlier, the fastest pace in nearly 24 years, with the trade balance logging a deficit for a fourth consecutive month, according to a Reuters poll.

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