South Korea’s Deputy Prime Minister and Finance Minister Choo Kyung-ho says a high inflation rate above six percent could continue into September and October.
However, he added that inflation is unlikely to sharply exceed the six percent mark for a significantly long period of time.
Choo made the comments at the G20 meeting of finance ministers and central bank chiefs in Bali, Indonesia, where he also sat down with the head of the International Monetary Fund, who projected a grim outlook for the global economy.
The IMF chief also hinted that the agency intends to further cut its growth forecast for major economies during its next review.
