South Korea’s consumer prices increase is estimated to stay above 3 percent for the second month in March on energy price and foreign exchange variables, market reports showed Sunday.
The country’s March inflation outlooks estimated by eight securities firms, including NH Investment and Securities, Kyobo Securities, Meritz Securities and DB Financial Investment, averaged at 3.2 percent.
In January, inflation fell below 3 percent for the first time since July 2023, when the figure came to 2.4 percent, but high prices of fruits, farm produce and energy caused inflationary pressure to flare up again to 3.1 percent.
Most firms projected inflation to hit either 3.2 percent or 3.3 percent in March. Meritz Securities suggested inflation would fall to 2.9 percent, the only company to predict consumer price growth to fall below 3 percent.
Source: Yonhap News Agency