The consumer price index (CPI) stood at 108.22 in June, up 6 percent from the same month of last year, according to Statistics Korea. It was the highest growth in almost 24 years since November 1998.
The consumer price inflation gained speed this year, with 4.1 percent in March, 4.8 percent in April, and 5.4 percent in May respectively.
The runaway inflation was driven by soaring global commodity prices amid the continued supply chain disruptions and geopolitical risks in Europe.
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