South Korea's Inflation Nears Central Bank's Target in February

South Korea's overall inflation in February is expected to remain close to the central bank's 2% target level. According to Jin10, a survey conducted by The Wall Street Journal among 13 economists predicts a median increase of 2.1% year-on-year in the core consumer price index, following a 2.0% rise in January. The survey also anticipates a 0.4% month-on-month increase in the CPI for February, consistent with January's growth rate. Citigroup economist Jin-Wook Kim noted that the prices of energy and other industrial products, including processed foods, might have decreased from the previous month, potentially offsetting inflationary pressures from agricultural products. On the other hand, due to seasonal factors related to the New Year and the start of a new year, prices for a wide range of personal services may have risen.