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South Korea's consumer inflation accelerated less than expected in March, with the consumer price index rising 2.2% from a year earlier, slightly higher than the previous month but below economists' forecasts. The increase was attributed to concerns about inflation due to rising oil prices following the Iran war. On a monthly basis, the index rose by 0.3% in March, weaker than expected.
The Ministry of Data and Statistics reported that South Korea's consumer inflation rose by 2.2% year-on-year in March, slightly higher than the previous month but lower than economists' expectations. The monthly increase was 0.3%, also below the forecasted 0.6%. The rise in inflation was influenced by the surge in oil prices triggered by the Iran war, leading to concerns about inflation.
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