South Korea's inflation rate increased in March, according to data from the Korean Statistical Office. The Consumer Price Index (CPI) rose by 2.2% year-on-year, up from 2% in February, aligning closely with market expectations. According to Jin10, the core inflation rate slightly decreased to 2.2%. Since the end of February, the conflict in Iran has led to a more than 40% surge in Brent crude oil prices, significantly raising South Korea's import costs. The Bank of Korea has identified the Middle East crisis as a major risk in the near term, warning that rising oil prices could exacerbate inflation and hinder economic growth. Hyun Song-seok, the nominee for the central bank governor, stated that the situation remains highly uncertain, with soaring oil prices posing upward pressure on inflation and downward risks to growth.