Choo Kyung-ho: "Although the exchange rate has risen, inflation will peak by around October at the latest"

[Asia Economy Sejong=Reporter Kwon Haeyoung] On the 15th, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho reiterated that despite the recent sharp rise in the exchange rate, the inflation rate is expected to slow down from around October.

At the plenary session of the National Assembly's Planning and Finance Committee held that day, Deputy Prime Minister Choo said, "Although the exchange rate has risen rapidly, I think consumer prices will peak by October at the latest," adding, "After that, I cautiously expect a gradual stabilization trend, even if slight." He continued, "Although oil prices and overseas factors still remain latent, I hope that concerns about the cost of living and grocery prices can be somewhat alleviated after October."

Regarding measures in response to the U.S. Inflation Reduction Act (IRA), he said, "We will first complete additional consultations with the U.S. and review the issues based on the results," adding, "Currently, we are examining various options."

The IRA mainly provides tax credit benefits for electric vehicles produced in North America.

This content was produced with the assistance of AI translation services.