© Reuters. FILE PHOTO: A transmission tower is silhouetted versus the setting sun near Kori Nuclear Power Plant in Busan, South Korea, August 18,2022 REUTERS/Kim Hong-Ji
SEOUL (Reuters) – A South Korean federalgovernment think-tank modified its yearly inflation forecast upwards on Thursday, pointingout the current increase in energy costs, although it stated the requirement for interest rate walkings hasactually reduced.
The Korea Development Institute (KDI) stated in its quarterly modification of financial projections this year’s inflation would be 3.5%, compared with the 3.4% it had predicted in May. The projection compares with the federalgovernment and the main bank’s inflation approximates of 3.3% and 3.5%, respectively.
“While the financial sluggis