South Korea's Inflation Holds Steady at 3.1% in March, Defying Expectations for a Slowdown

Despite forecasts for a deceleration, South Korea's inflation rate remains unchanged, complicating the central bank's decision on interest rate cuts.

South Korea's inflation rate matched February's pace at 3.1% in March, contrary to predictions it would slow to 3%.
Core inflation, excluding food and energy, slightly decreased to 2.4% from February's 2.5%.
The Bank of Korea maintains a cautious stance, keeping interest rates at a 15-year high amid inflation concerns.
Government initiatives to stabilize prices and the expectation of inflation easing in the second half of the year are in focus as the country approaches parliamentary elections.
The trade surplus and stable exchange rates bolster confidence in South Korea's economic outlook, despite inflationary pressures.