FX.co ★ South Korea Inflation Rises to 2.2%

South Korea’s annual consumer inflation accelerated to 2.2% in March 2026, up from 2.0% in February but slightly below market expectations of 2.3%. This is the highest reading in three months and exceeds the central bank’s 2% target, underscoring growing price pressures as the ongoing Iran conflict drives global energy costs higher. Meanwhile, core inflation—which excludes volatile food and energy prices—eased marginally to 2.2% from 2.3% in February. The Bank of Korea has identified the Middle East crisis as a major near-term risk, cautioning that further increases in oil prices could quicken inflation while simultaneously weighing on overall economic activity.