South Korea's Inflation Expected to Accelerate in March Amid Middle East Energy Shock

South Korea's inflation rate is anticipated to accelerate in March due to rising price pressures from the Middle East energy shock. According to Jin10, a survey conducted by The Wall Street Journal among 13 economists predicts that the benchmark consumer price index will increase by 2.4% year-on-year, up from February's 2.0% growth rate. Economists attribute the heightened inflationary pressure to soaring oil prices and increased transportation costs amid ongoing Middle East conflicts. The survey also indicates that the index may rise by 0.6% month-on-month in March, following a 0.3% increase in February. The consumer price index data for March is scheduled for release on Thursday.