According to CoinMeta, South Korea's core inflation reached its highest level in two and a half years in July, despite an overall slowdown in inflation. According to data from the South Korean Statistical Agency, the consumer price index rose by 2.8% year-on-year, lower than 3.2% in June and below the market forecast of 3.0%. Although overall inflation has slowed down, the acceleration of core inflation to 2.6% indicates potential price pressures. Deputy Finance Minister Lee Hyung-il stated that despite the softer overall data, policymakers still need to remain vigilant, especially in light of the uncertainties brought about by conflicts in the Middle East.