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South Korea Inflation Accelerates as Higher Oil Prices Pressure Households

Seoul, 6 May 2026 – South Korea’s consumer inflation accelerated in April as higher oil prices pushed up transport and energy-related costs, adding pressure on households and complicating the policy outlook for the Bank of Korea.

Consumer prices rose 2.6% year-on-year in April, up from 2.2% in March and marking the fastest pace since July 2024. On a monthly basis, prices increased 0.5%, reflecting the pass-through from higher global energy costs into domestic fuel, transport and service prices.

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Author

  • Kenji Yamamoto is a Senior Fellow at The Ledger Asia, where he explores the critical nexus of Asian international relations, economic development, and environmental sustainability. With extensive experience in cross-border policy analysis, Kenji provides a unique perspective on how diplomatic alliances and green energy transitions drive long-term growth across the Asia-Pacific.

    Previously an advisor for regional development banks, he specializes in sustainable infrastructure and the circular economy’s role in modernizing emerging markets. At The Ledger Asia, Kenji’s deep-dive reports help readers navigate the complex balance between rapid industrialization and the global imperative for climate resilience and corporate responsibility.

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