South Korea June inflation +2.4% y/y, weaker than forecast
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FILE PHOTO: A shopkeeper naps as she waits for customers at a traditional market in Seoul, South Korea, April 7, 2022. REUTERS/Kim Hong-Ji/File Photo
SEOUL (Reuters) - South Korea's consumer inflation eased more than expected to the weakest in 11 months, official data showed on Tuesday.
The consumer price index stood 2.4% higher in June than a year earlier, slower than a rise of 2.7% in May and the slowest since July 2023, according to Statistics Korea.
It was also weaker than a median 2.7% rise tipped in a Reuters survey of economists.
The index fell 0.2% on a monthly basis, after a 0.1% rise in the previous month, marking the first decline in seven months.
(Reporting by Jihoon Lee; Editing by Jacqueline Wong)
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