S.Korea central bank expects inflation to stay high for lengthy period

SEOUL (Reuters) – South Korea’s central bank said annual consumer inflation is expected to stay high at the 5-6% levels, with upside risks, for a considerable period of time.

The Bank of Korea cited high dollar-won exchange rates and major oil producers’ production cuts as upside risks, after a meeting on Wednesday to discuss recent inflation conditions and outlook.

(Reporting by Jihoon Lee; Editing by Shri Navaratnam)