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South Korea's economy slows to 1% as inflation climbs amid rising food
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Updated 1d ago |
Created 1d ago
The Korean National Statistical Office reported that the country's GDP growth decelerated significantly in March, slowing from a previous pace due to persistent high prices for essential goods like rice while overall consumer price index rose by an annualized rate of roughly one percent compared with February data points showing 146% year-over-year increases.
Key Points
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1South Korea's economy grew at a slower pace of just over 1% in the latest quarter compared to previous forecasts.
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2Inflation has risen, prompting concerns about whether economic growth will be sustained or if it may slow further due to rising prices and weak domestic demand.
Developments
[Mar 21]
(Note: No specific date provided in the text for this event)
[Unknown Date, Mar 09-365 days ago or similar relative timeframe implied by context of 'previous qua
(No explicit start/end dates found; timeline constructed based on sequential reporting order from newest to oldest within the provided text)
Korean economy growth slows to 1% as inflation rises...[Analysis by Yonhap News Agency] /no_think/translated
Mk.co.kr
1d ago