Inflation expected to edge up in Aug. on base effect: BOK

Inflation is expected to edge up in August from the previous month due to a base effect, while lingering Middle East tensions continue to fuel cost-push inflationary pressure, the central bank said Tuesday. "Consumer prices in July slowed as prices of petroleum and agricultural products fell," Deputy Gov. Lee Ji-ho said during a meeting to review inflation trends. "However, core inflation rose slightly due to higher prices of durable goods amid cost-push inflation." "In August, inflation is proj