South Korea's inflation remained high in September, indicating continued price pressure, which is expected to support the Bank of Korea in maintaining a tight monetary policy trend. According to data released by the South Korean government on Friday, consumer prices rose 2.9% year on year in September, down from 3.1% in August, in line with economists' median estimates. Excluding volatile food and energy prices, the core inflation rate was 2.8%, down from 3.4% in August, which is also in line with expectations. This shows that apart from the impact of high energy costs, core inflationary pressure is still high. The Bank of Korea raised interest rates continuously in July and August, and the benchmark interest rate was raised to 3%. The latest inflation data may further reinforce its austerity trend. Policymakers previously warned that strong economic growth, high inflation, and rising housing prices may require further increases in interest rates.

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