South Korea Inflation Rate 1966-2018 | Data | Chart | Calendar | Forecast

Consumer prices in South Korea increased by 1.4 percent year-on-year in February of 2018, following a 1.0 percent rise in the previous month and compared to market expectations of 1.2 percent. Core CPI, which excludes oil and agricultural products, rose 1.2 percent, following a 1.1 percent increase in January. On a monthly basis, consumer prices climbed 0.8 percent after rising 0.4 percent in the previous month and compared to expectations of a 0.5 percent increase. Inflation Rate in South Korea averaged 7.41 percent from 1966 until 2018, reaching an all time high of 32.50 percent in October of 1980 and a record low of 0.20 percent in February of 1999.

South Korea Inflation Rate
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South Korea Inflation Rate Rises More than Estimated


Consumer prices in South Korea rose by 1.4 percent year-on-year in February 2018, after a 1.0 percent rise in the previous month. Figures came above market consensus of 1.2 percent, mainly due to a surge in cost of food & non-alcoholic beverages.

In February, prices of food & non-alcoholic beverages increased by 2.2 percent year-on-year, reversing from a 0.3 percent drop in January. Also, cost rebounded for: recreation & culture (0.5 percent from -1.3 percent) and miscellaneous goods and services (0.1 percent -0.2 percent). In addition, cost went up at a faster pace for education (1.2 percent from 1.1 percent), while inflation was steady for: clothing and footwear (1.3 percent); health (0.4 percent) and restaurants and hotels (2.8 percent).

Meanwhile, cost went up less for: alcoholic beverages & tobacco (0.5 percent from 1.1 percent); housing, water, electricity, gas and other fuels (1.4 percent from 1.5 percent); furnishing, household equipment & routine maintenance (2.9 percent from 3.3 percent) and transport (1.3 percent from 1.6 percent). On the other hand, cost continued to fall for communication (-0.2 percent from -0.2 percent).

For 2018, the Bank of Korea's sees inflation at 1.7 percent.


Core CPI, which excludes oil and agricultural products, increased by 1.2 percent in February, following a 1.1 percent gain in a month earlier.

On a monthly basis, consumer prices rose 0.8 percent, much faster than a 0.4 percent rise in the previous month while markets estimated a 0.5 percent increase.


Statistics Korea | Rida Husna |
3/6/2018 12:28:30 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-28 11:00 PM Inflation Rate YoY 1.5% 1.3% 1.5% 1.7%
2018-01-31 11:00 PM Inflation Rate YoY 1.0% 1.5% 1.3% 1.5%
2018-03-05 11:00 PM Inflation Rate YoY 1.4% 1.0% 1.2% 1.3%
2018-04-02 11:00 PM Inflation Rate YoY 1.4% 1.5%
2018-05-01 11:00 PM Inflation Rate YoY 1.4%
2018-05-31 11:00 PM Inflation Rate YoY 1.4%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.40 1.00 32.50 0.20 percent [+]
Inflation Rate Mom 0.80 0.30 5.29 -2.52 percent [+]
Consumer Price Index CPI 104.26 103.46 104.26 2.63 Index Points [+]
Core Consumer Prices 103.99 103.58 103.99 9.61 Index Points [+]
Core Inflation Rate 1.20 1.10 30.50 -0.40 percent [+]
GDP Deflator 113.59 110.74 113.59 0.79 Index Points [+]
Producer Prices 103.99 103.58 108.97 5.08 Index Points [+]
Producer Prices Change 1.30 1.20 47.40 -4.70 percent [+]
Export Prices 85.04 84.16 168.80 14.92 Index Points [+]
Import Prices 83.49 82.93 116.89 4.81 Index Points [+]
Food Inflation 2.20 -0.30 6434.02 -4.50 percent [+]
CPI Transportation 103.33 102.98 112.54 27.63 Index Points [+]


South Korea Inflation Rate

In South Korea, the most important categories in the consumer price index are Housing, water, electricity, gas and other fuels (17 percent of total weight) and Food and non-alcoholic beverages (13.6 percent of total weight). Others include Restaurants and hotels (12 percent); Education (11.4 percent); Transportation (10.9 percent); Health (7.3 percent); and Clothing and footwear (6.2 percent). The components with the least weight are Communication at 5.8 percent; Miscellaneous goods and services at 5.4 percent; Recreation and culture at 5.3 percent; Furnishings, household equipment and routine maintenance at 3.8 percent; and Alcoholic beverages and tobacco at 1.24 percent. This page provides the latest reported value for - South Korea Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Inflation Rate - actual data, historical chart and calendar of releases - was last updated on March of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.00 32.50 0.20 1966 - 2018 percent Monthly
2010=100, NSA




inflation rate by Country
Country Last
Australia 1.90 Dec/17
Brazil 2.84 Feb/18
Canada 2.20 Feb/18
China 2.90 Feb/18
Euro Area 1.10 Feb/18
France 1.20 Feb/18
Germany 1.40 Feb/18
India 4.44 Feb/18
Indonesia 3.18 Feb/18
Italy 0.50 Feb/18
Japan 1.50 Feb/18
Mexico 5.34 Feb/18
Netherlands 1.20 Feb/18
Russia 2.20 Feb/18
South Korea 1.40 Feb/18
Spain 1.10 Feb/18
Switzerland 0.60 Feb/18
Turkey 10.26 Feb/18
United Kingdom 2.70 Feb/18
United States 2.20 Feb/18


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