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South Korea’s Consumer Price Index Rising at Record Pace Due to Heavy Reliance on Imports From China

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South Korea’s Consumer Price Index Rising at Record Pace Due to Heavy Reliance on Imports From China
A customer waits as a vendor prepares dumplings at a stall at the entrance to a street market during a snow fall in Seoul on Jan. 12, 2021. Ed Jones/AFP via Getty Images
Lisa Bian
Updated:

China’s rising raw material costs are driving up the prices of consumer goods in South Korea, said the Bank of Korea.

According to a Yonhap News Agency report citing the Bank of Korea, China’s soaring producer price index and export prices driven by its rising raw material costs are adding to South Korea’s inflation pressures, reflecting on its consumer price index (CPI).

Lisa Bian
Lisa Bian
Author
Lisa Bian, B.Med.Sc., is a healthcare professional holding a Bachelor's Degree in Medical Science. With a rich background, she has accrued over three years of hands-on experience as a Traditional Chinese Medicine physician. In addition to her clinical expertise, she serves as an accomplished writer based in Korea, providing valuable contributions to The Epoch Times. Her insightful pieces cover a range of topics, including integrative medicine, Korean society, culture, and international relations.
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