South Korea's Vice Finance Minister Choi Joong Kyung said accelerating inflation is mainly due to rising oil and grain prices, adding pressure on the central bank to lower interest rates to support economic growth.
"The government's task is to prevent the economy from going down further and to also control prices at the same time," Choi said on PBC radio in Seoul today. "It's difficult to control rising oil and grain prices."

South Korea's government is trying to stimulate growth in an economy that it said last month has "entered a downturn. ... Read full article