South Korea inflation hits four-year high as pandemic’s grip eases

While there were signs of improving domestic demand supporting inflation, the boost was largely driven by higher commodity and energy prices, which had plunged a year earlier as the pandemic spread across the world.

SEOUL: South Korea’s inflation accelerated in April to the fastest pace since 2017 amid a broadening economic recovery, but the pickup is unlikely to stoke concerns over excessive price pressure as calendar effects helped buoy the gains.

Inflation rose to 2.3% in April, data from the statistics office showed yesterday, rapidly increasing from 1.5% in March.