South Korean core CPI surges to its highest y/y reading since February 2009

Inflation data from South Korea for May 2022.

Headline CPI +0.7% m/m (Reuters median estimate was +0.4%)

• and +5.4% y/y (5.1%) (hisghest since August 2008)

Core CPI +3.4% y/y, jumping from +3.1% in April

• highest since Feb of 2009