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S Korea July CPI seen rising in 6% range -vice Finance Minister

S Korea July CPI seen rising in 6% range -vice Finance Minister

FILE PHOTO: A woman shops at an underground shopping district in the Gangnam area of Seoul, South Korea, June 28, 2016. REUTERS/Kim Hong-Ji

SEOUL : South Korea's consumer prices are expected to rise in the range of 6 per cent in July for a second month, pushed up by farm products amid unfavourable weather conditions, vice finance minister Bang Ki-sun said on Friday.

The trade balance is expected to post a deficit for the month due to a surge in energy imports, Bang added.

Economists expect the consumer price index to rise 6.3 per cent in July from a year earlier, the fastest pace in nearly 24 years, with the trade balance logging a deficit for a fourth consecutive month, according to a Reuters poll.

Source: Reuters
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