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S.Korea April CPI growth hits over 13-yr high, tops expectations

A road vendor counts his cash on the Namdaemun Market in Seoul, South Korea, Might 30, 2017. REUTERS/Kim Hong-Ji

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SEOUL, Might 3 (Reuters) – South Korea’s shopper costs in April rose a lot sooner than anticipated and at their quickest tempo in additional than 13 years over a 12 months earlier, authorities knowledge confirmed on Tuesday.

The Statistics Korea knowledge confirmed the nation’s shopper value index (CPI) rose 4.8% in April from a 12 months earlier than, dashing up from a 4.1% rise within the earlier month and much sooner than a 4.4% rise tipped in a Reuters survey. learn extra

It was the quickest annual progress since October 2008 and stood above the central financial institution’s 2% goal for a thirteenth consecutive month.

The index rose 0.7% on a month-to-month foundation, in contrast with a 0.4% rise tipped within the survey, after rising 0.7% in March.

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Reporting by Jihoon Lee and Choonsik Yoo; modifying by Richard Pullin

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