South Korea's inflation hit a 29-month high in March as exports hit a new record, according to data released Friday that raised the prospect of further interest rate rises. The consumer price index rose 4.7 percent from March 2010, accelerating from the previous month's 4.5 percent increase. It was the highest figure since 4.8 percent in October 2008, Statistics Korea said. Month-on-month, the index rose 0.5 percent following a 0.8 percent increase in February.