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S Korea central bank expects inflation to stay high for lengthy period

S Korea central bank expects inflation to stay high for lengthy period

FILE PHOTO: A customer picks up a lunch box at a convenience store in Seoul, South Korea, June 24, 2022. Picture taken June 24, 2022. REUTERS/ Heo Ran

SEOUL : South Korea's central bank said annual consumer inflation is expected to stay high at the 5-6 per cent levels, with upside risks, for a considerable period of time.

The Bank of Korea cited high dollar-won exchange rates and major oil producers' production cuts as upside risks, after a meeting on Wednesday to discuss recent inflation conditions and outlook.

Source: Reuters
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