# Specter of stagflation looms due to soaring oil prices, weakening won - The Korea Times

> Korea faces rising stagflation risk as oil prices surged and the won fell to a 22-month low of about 1,237 per dollar on March 8, 2022. Experts cited sanctions on Russia and higher energy costs pushing up import prices. Korean inflation has stayed around 3% for five straight months.

- Date: 2022-03-08 · published 2022-03-08T12:00:00.000Z
- Category: macro · region South Korea · magnitude medium
- Page: https://feedsoft.ai/events/42506-specter-of-stagflation-looms-due-to-soaring-oil-prices-weakening-won-the-korea
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Higher crude and a weaker won sharply raise the cost of imported energy and feed inputs for Korean buyers, pressuring margins and consumer prices. Sustained oil strength keeps energy-linked input costs elevated.

## Read by commodity

- WTI: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-02-07 | [Soaring oil prices, weakening won weigh on Korea's economy - The Korea Times](https://feedsoft.ai/events/42957-soaring-oil-prices-weakening-won-weigh-on-korea-s-economy-the-korea-times.md) | +0.9% | +29.3% |
| WTI | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | -10.8% | -16.4% |
| WTI | 2020-01-27 | [Due to oil prices on the world market, the prices of all commodities are rising – Lider Media](https://feedsoft.ai/events/55169-due-to-oil-prices-on-the-world-market-the-prices-of-all-commodities-are-rising.md) | -4.7% | -5.1% |
| WTI | 2017-01-09 | [Oil Prices: What to Make of the Volatility](https://feedsoft.ai/events/73142-oil-prices-what-to-make-of-the-volatility.md) | -3.0% | -1.8% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |

## Sources

- koreatimes.co.kr: https://www.koreatimes.co.kr/economy/20220308/specter-of-stagflation-looms-due-to-soaring-oil-prices-weakening-won

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.