HONG KONG—Early warning signs of inflation are appearing in some parts of Asia, as higher energy and food prices start to bite in countries that recently seemed immune to cost pressures.
India’s inflation accelerated to 6% in January, well above the trend of around 3.6% in the three years leading up to the Covid-19 pandemic, while Sri Lanka’s inflation hit 14.2% that month, the highest in more than a decade. In South Korea, core consumer inflation recently rose to 3%, its highest level since January 2012.
