SEOUL :South Korea's consumer price index stood 6.3 per cent higher in July than a year earlier, official data showed on Tuesday, accelerating from the previous month to hit the fastest inflation rate in almost 24 years.The annual rate was up from a 6.0 per cent rise seen in June and was the fastest pace since a 6.8 per cent gain in November 1998. The median forecast in a Reuters survey of economists was for the July consumer price index to be up 6.3 per cent on a year earlier.
Annual core inflation, which excludes volatile food and energy prices, ended a three-month run of successive acceleration to hold steady in July at the 3.9 per cent rate seen in June.
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