S. Korea’s Inflation Picks Up on One-Off Phone Bill Effect

South Korea's inflation rate has crossed the 3% mark for the third time this year, driven largely by a one-time spike in phone bill costs. This rise in core prices, which excludes volatile food and energy prices, has hit its fastest pace in over three years. Such developments bolster the central bank's argument for keeping interest rates higher to manage inflation, signaling a significant economic shift that could influence monetary policy decisions. This trend underscores the broader implications for consumer spending and economic stability in the region.