South Korea’s consumer price index climbed 3.2% year-on-year in June, reaching its highest level in 30 months.
The acceleration marks the second straight month that inflation has exceeded the 3% threshold, driven largely by elevated energy costs stemming from the ongoing conflict in the Middle East.
The data underscores the continued transmission of geopolitical risk into domestic price pressures.
High oil prices, a direct consequence of shipping disruptions and supply concerns linked to the war, remain the primary catalyst for the inflationary uptick.
This mirrors trends seen in other major economies, where energy market volatility has kept consumer prices sticky despite broader global economic headwinds.
The persistent inflationary pressure complicates the outlook for monetary policy in Seoul.