The Bank of Korea expects the Consumer Price Index (CPI) to remain at a level of 3% for a period of time.

The Bank of Korea stated in a statement that with the impact of rising oil prices gradually spreading to other sectors, it is expected that the Consumer Price Index (CPI) will remain at a level of 3% for a period of time. It is expected that the CPI in June will be similar to the level in May. Data released by the South Korean government on Tuesday showed that the Consumer Price Index rose 3.1% year-on-year in May, the largest increase since March 2024.