A government forecast says the country will see a higher inflation rate this month compared to last month’s two-point-five percent. 

First Vice Finance Minister Lee Eog-weon revealed the projection on Friday during a meeting of related ministers in Seoul. 

He stressed the need for more active countermeasures in the fourth quarter, citing greater uncertainties resulting from a rise in global oil prices, disruption in global supply chains and global inflationary pressures. 

Lee projected that prices of processed goods are expected to jump following a rise in milk prices, adding the government will boost communication with related industries to prevent a price-rise bandwagon. 

To address growing jitters over global energy prices, the government will review the status of oil reserves and monitor price and supply trends in real-time. 

On global supply chain disruptions, Lee said though the country is seeing a limited impact, it will keep a close eye on related situations and respond preemptively if deemed necessary. 

He said if prolonged, disruption could slow down the global economic recovery and raise inflationary pressures.