South Korea’s CPI inflation stable at 3.1% in March

Annual consumer price inflation in South Korea has remained stable at 3.1% in March, data by Statistics Korea showed.

It has been the highest CPI inflation reading since December, fueled by higher prices of fresh food and energy.

It also came in line with market consensus.

In month-over-month terms, South Korean consumer prices edged up 0.1% in March, below market estimates of a 0.3% rise and slowing from a 0.5% increase in February.

The South Korean Won was little changed on the day against the US Dollar, with the USD/KRW currency pair last trading at 1,352.63.

Still, the Won held in proximity to a fresh 5-month low of 1,356.08, which it registered during the early phase of the Asian session.