Choo Kyung-ho: "Inflation to Peak in September-October Unless External Unexpected Variables Arise"

Deputy Prime Minister for Economy Choo Kyung-ho and Bank of Korea Governor Lee Chang-yong attended the full meeting of the Planning and Finance Committee held at the National Assembly on the 1st and are talking before the meeting started. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Kwon Haeyoung] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said on the 1st, "Unless there are additional unexpected external factors, I predict that the price peak will occur around September or October."

Deputy Prime Minister Choo stated this during the Ministry of Economy and Finance's work report at the National Assembly's Planning and Finance Committee on the same day, in response to a question about the timing of the price peak (peak out). He said, "There are external variables, so I am cautious, but it will likely be at the end of the 3rd or 4th quarter or the beginning of the 4th quarter."

Regarding the need to support vulnerable groups, Deputy Prime Minister Choo emphasized, "When prices and the economic situation are unfavorable, urgent measures are needed to compensate for the real income reduction of vulnerable groups. We have focused policies on alleviating difficulties through supplementary budgets (Chugyeong) and various measures thereafter," adding, "We will use all available means to embrace and support vulnerable groups."