SEOUL, June 2 : South Korea's consumer inflation quickened in May to a more than two-year high, exceeding market expectations on high oil prices triggered by the Middle East conflict, supporting the case for monetary tightening as early as next month. The consumer price index (CPI) rose 3.1 per cent from a year earlier, the biggest jump since March 2024, after climbing 2.6 per cent in April, data from the Ministry of Data and Statistics showed on Tuesday. It was higher than the median 3.0 per

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