July Inflation Up 2.1%... Heavy Rains and Heatwaves Drive Agricultural Prices Soaring [3-Minute Brief]

[At a Glance]
1. Consumer prices remain in the 2% range for two consecutive months... Record heatwave drives agricultural product prices soaring
2. Berkshire warns of tariff shock... Cash holdings approach all-time high
3. Banks expected to see declining earnings in the second half... Four major financial groups' net profit estimated at 8.7 trillion won

MARKET INDEX : Year to date

○The New York stock market fell across the board due to disappointing service sector indicators.
○Concerns over 'stagflation' are growing as input costs rise.
○Trump: "Semiconductor and pharmaceutical tariffs to be announced next week."

Top3 NEWS

■ July consumer prices up 2.1%... Stable near 2% for one year

○Rise in processed food prices slowed, influenced by discount events and other factors.
○However, prolonged heatwaves caused sharp price increases in some products such as spinach.
○Living necessities price index also rose by 2.5%... Domestic beef up 4.9%

■ Buffett's Berkshire remains cautious amid Trump's tariff warning

○Reflected a $3.8 billion loss from Kraft Heinz holdings.
○Net seller of stocks for 11 consecutive quarters... Cash holdings at an all-time high.
○No share buybacks for four consecutive quarters.

■ "Lending regulations, inclusive finance, Fair Trade Commission pressure"... Cloudy outlook for banks in the second half

○Mortgage loan supply cut by half... Interest income decreases.
○Fair Trade Commission to impose fines for LTV collusion.
○At least 400 billion won in joint burden for bad banks.

Graphic News: "Actually wanted abolition"... Why the financial sector is opposing the education tax increase

○From next year, the education tax on the financial sector will double.
○Despite proposals for abolition or reform due to "low relevance to business operations,"
○Industry is perplexed as tax burden increases.

the Chart: Despite strong dollar, foreign reserves increased in July... "New foreign currency bonds issued, investment returns up"

○At the end of July, Korea's foreign exchange reserves stood at $411.33 billion, up $1.13 billion.
○US dollar index (DXY) up 2.5%... Despite a relative decrease in dollar-converted value,
○New issuance of foreign currency bonds and increased investment returns contributed.

Today's Key Schedule

○Domestic

KOSDAQ Hana 35th SPAC listing, final public offering price 2,000 won

KOSDAQ Kyobo 18th SPAC subscription, final public offering price 2,000 won

KOSDAQ G2GBio subscription, final public offering price 58,000 won

KOSDAQ SamyangComtech subscription, final public offering price 7,700 won

○Overseas

02:00 US Atlanta Fed GDPNow (Q3)

17:30 UK Construction Purchasing Managers' Index (July)

23:30 US Crude Oil Inventory

◇Lunch & Evening Commute Weather

○Lowest temperature 27°C(0°C) ｜Highest temperature: 28°C(▼5°C)
○Chance of precipitation: 80% in the morning｜60% in the afternoon
○Fine dust: Good in the morning｜Good in the afternoon

3 minutes is all you need?essential, value-for-time economic news. Published daily at 8:00 AM.