Energy costs pressures re-emerge, South Korea's inflation in March may surge again

Golden Ten Data reported on March 30 that, due to rising price pressures from the Middle East energy shock, South Korea's overall inflation rate in March is expected to accelerate. According to the median forecast of 13 economists surveyed by The Wall Street Journal, the benchmark Consumer Price Index is projected to increase by 2.4% year-on-year, up from February's 2.0% growth rate. Economists stated that, as the Middle East conflict continues, soaring oil prices and rising transportation costs are intensifying inflationary pressures. The survey also indicated that, after a 0.3% month-on-month increase in February, the index could rise by 0.6% month-on-month in March. The March Consumer Price Index data will be released on Thursday.