Macro Snapshot — South Korea inflation at 24-year high; Australia increases interest rate again

RIYADH: South Korea’s inflation rose to a 24-year high in June, while Australia’s central bank increased the country’s interest rate for the third month in a row. 

Inflation in South Korea

South Korea’s inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big rate hike by the central bank.