BOK says inflation to ease in Sept. but underlying pressures to persist

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Core inflation, which reflects the underlying trend of prices, has surged to its highest level in three years and three months. Even after removing the base effect from last year's telecommunications subsidies, the actual underlying core inflation stands in the mid-to-high 2% range, exceeding the Bank of Korea's price stability target of 2%. In particular, if economic recovery and income growth lead to increased consumption, the pace of decline …

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The Bank of Korea expects prices to moderate in September, but the underlying inflation reaches 3.4 per cent and forces it to maintain monetary pressure after raising rates to 3 per cent.