受经济复苏加快，且去年基数较低影响，韩国5月份消费者物价指数（CPI）升至2012年以来最高水平。
韩国统计局周三公布数据显示，韩国5月CPI同比上涨2.6%，符合市场预期，高于4月份的2.3%。韩国整体通胀率连续第二个月超过韩国央行2%的目标。
供应方面问题导致物品价格上涨推动5月通胀上行：5月农畜渔业产品和石油的成本分别上涨12.1%和23.3%；运输成本同比上涨9.2%；而食品和非酒精饮料价格上涨7.4%；餐馆和酒店的价格上涨了 2%。娱乐成本上升 1%，但通讯价格下降 2.1%。
韩国企划财政部长官洪楠基表示，低基数、部分农产品(5.880, -0.02, -0.34%)临时供应中断以及油价上涨的影响将在未来得到缓解，“政府将做好准备，防范通胀风险成为现实，防止过度的通胀预期，并采取措施稳定生活成本”。
消费者价格上涨引发关于央行何时可能开始再次加息的辩论。对于央行决策者而言，价格上涨的加快也反映了经济复苏范围扩大，这增加了央行推进货币政策正常化的压力。
韩国央行试图淡化通胀上行的风险。
在周三的声明中，韩国央行表示5月份消费者通胀上升主要是由基数效应对油品价格产生影响所致，符合韩国央行上周宣布的预测。下半年CPI通胀可能有所减缓并在2%附近波动，然后在2022年放缓至1.5%附近。韩国央行上周将今年的CPI预测从1.3%上调至1.8%，但维持明年1.4不变。
韩国央行表示，受经济改善影响，明年核心通胀可能会继续呈上升趋势。央行正在密切关注通胀趋势，“不能排除”供需侧通胀压力超过预期的可能性。
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