The US consumer price index rose 5.4% YoY in June and Korea rose 6.4%, higher than the previous year.
The Bank of Korea announced on the 21st that, in contrast to the perceived price increase, statistics showed that agricultural products fell by 2.1% compared to the previous month.
The BOK announced that the consumer price index for June rose 0.4% month-on-month and 6.4% year-on-year, rising for eight consecutive months since November last year, and the producer price index in June was the highest ever.
Statistics show that, in the domestic supply price index calculated by combining the producer price index and the import price index, raw materials rose by 4.5%, 0.8% from the previous month and 8.6% from the same month of the previous year.
The statistics revealed that, unlike ordinary people's perceived price, agricultural products (-2.1%) and aquatic products (-0.2%) fell in June, and only livestock products (3.2%) rose.
The Bank of Korea said that industrial products led the rise in producer prices in June, rising 0.6% from the previous month, showing an upward trend for 13 consecutive months, and coal and petroleum products rising by 3.5% from the previous month.
Inflation in the US was the highest in 13 years, according to the Labor Department's Consumer Price Index (CPI) on June 13, rising 5.4% from the same month a year ago.
The US consumer price index rose 0.9% in June compared to the previous month.
In a report released on the 19th on US inflation, the Bank of Korea said, "In Korea, inflationary pressure caused by demand-side factors may be greater than expected in the future." Expected inflation is also under upward pressure as inflationary pressures increase," he said, revealing the possibility of a 'Korean transition'.
According to the Consumer Price Statistics of the National Statistical Office, the price of eating out in June rose 2.3% from the same month of the previous year, the highest in two years and three months.
The U.S. Department of Labor's Producer Price Index (PPI) in June surged 7.3% from a year earlier, and Korea's Supply Price Index rose 8.6%.
June Price, Expected Inflation, Agricultural Products, Inflation, US Consumer Price, Producer Price, Consumer Price, Consumer Price Index CPI, Statistics Korea, Bank of Korea