Key facts
- The government will mobilize all available tools, including taxes and fiscal measures, to rein in rising inflation.
- Price stabilization is the government's top priority.
- Energy prices have risen due to the Middle East war and unusual weather conditions.
- Consumer prices rose 3.1% in May from a year earlier, the fastest growth in 26 months.
SEOUL, June 25 (Yonhap) -- South Korea's top economic policymaker vowed Thursday that the government will mobilize all available tools, including taxes and fiscal measures, to rein in rising inflation and reduce the burden on ordinary people.
In a meeting with high-ranking officials, Finance Minister Koo Yun-cheol said the government's top priority at present is price stabilization. He noted that energy prices have been rising since the Middle East war, and unusual weather conditions are also affecting inflation.