South Korean consumer prices in April rose 4.1 per cent from a year earlier, more than expected, keeping the annual rate of inflation above the central bank's target for the fifth month in a row, data showed on Thursday.
April's annual inflation was the highest since a 4.8 per cent increase in August, 2004.
The median forecast in a Reuters poll was for the consumer price index (CPI) to rise 3.9 per cent from a year earlier, the same rate as in March and above 3.6 per cent in February.
The Bank of Korea (BOK), due to review monetary policy on May 8, has a target to keep inflation on average in a range of 2.5 per cent to 3.5 per cent during 2007-2009.
But the annual rate has been above 3.5 per cent since December.
The annual rate of core inflation, which strips out volatile food and fuel prices, rose to 3.5 per cent in April from 3.3 per cent in March.
The consumer price index rose 0.6 per cent in April from a month earlier, compared with 0.9 per cent in March, data from the National Statistical Office showed. The monthly figures are not adjusted for seasonal patterns.
The BOK held its benchmark interest rate steady in April for the eighth consecutive month after lifting it by a quarter of a point in both July and August last year to a six-year high of 5.0 per cent.
April's annual inflation was the highest since a 4.8 per cent increase in August, 2004.
The median forecast in a Reuters poll was for the consumer price index (CPI) to rise 3.9 per cent from a year earlier, the same rate as in March and above 3.6 per cent in February.
The Bank of Korea (BOK), due to review monetary policy on May 8, has a target to keep inflation on average in a range of 2.5 per cent to 3.5 per cent during 2007-2009.
But the annual rate has been above 3.5 per cent since December.
The annual rate of core inflation, which strips out volatile food and fuel prices, rose to 3.5 per cent in April from 3.3 per cent in March.
The consumer price index rose 0.6 per cent in April from a month earlier, compared with 0.9 per cent in March, data from the National Statistical Office showed. The monthly figures are not adjusted for seasonal patterns.
The BOK held its benchmark interest rate steady in April for the eighth consecutive month after lifting it by a quarter of a point in both July and August last year to a six-year high of 5.0 per cent.
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