Inflation picks up on higher energy, food cost

Rising consumption: A file picture of customers at a cafe at the Gangnam district of Seoul. Vegetable prices in South Korea jumped 4.4% in January, while costs associated with electricity, gas and water increased 3.1%. — Bloomberg

SEOUL: The Bank of Korea (BoK) has predicted inflationary pressure will soon cool after price growth topped consensus in the latest reading, as authorities balance support for an economy threatened by Donald Trump’s tariffs against the risk that policy easing could further hit a local currency already battered by political turmoil.

Consumer prices advanced 2.2% in January from a year earlier, faster than the 1.9% rise in December, the statistics office reported.