South Korea Inflation Rate 1966-2017 | Data | Chart | Calendar | Forecast

Consumer prices in South Korea increased 1.3 percent year-on-year in November of 2017, after a 1.8 percent rise in October and compared to market expectations also of 1.8 percent. It was the lowest inflation rate since December of 2016 mainly explained by a 6.7 percent fall in the prices of utilities (vs -1.6 percent in October) and a 2.5 percent decline in fresh foods (vs +1.8 percent in October). On a monthly basis, consumer prices declined 0.7 percent after falling 0.2 percent in the previous month. Inflation Rate in South Korea averaged 7.43 percent from 1966 until 2017, 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
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




South Korea Inflation Rate Falls to 11-Month Low


Consumer prices in South Korea increased 1.3 percent year-on-year in November of 2017, easing from a rise of 1.8 percent in October and below market expectations also of 1.8 percent. It was the lowest inflation rate since December of 2016 amid lower prices of utilities and foods.

Year-on-year, prices rose at a softer pace for housing utilities (0.3 percent from 1.8 percent); food and non-alcoholic beverages (0.5 percent from 1.7 percent); health (0.3 percent from 0.6 percent) and alcoholic beverages and tobacco (1.4 percent from 1.6 percent). Also, inflation eased for miscellaneous goods and services (2.5 percent from 3.1 percent) and furnishings, household equipment and routine maintenance (1.7 percent from 1.9 percent). In addition, prices fell for recreation and culture (-0.9 percent from 0.3 percent).

In contrast, consumer prices increased faster for restaurants and hotels (2.6 percent from 2.5 percent), while they rose at the same pace as in the previous month for clothing and footwear (1.1 percent); transport (3.6 percent) and education (1.0 percent).

Annual core inflation, which excludes volatile items such as energy and food went down to 1.4 percent from 1.6 percent.

On a monthly basis, consumer prices fell 0.7 percent, following a 0.2 percent decrease in the previous month.

Statistics Korea | Marta Dubiel |
12/1/2017 3:48:16 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-10-01 11:00 PM Inflation Rate YoY 2.1% 2.6% 2.2% 2.2%
2017-10-31 11:00 PM Inflation Rate YoY 1.8% 2.1% 1.9% 2.2%
2017-11-30 11:00 PM Inflation Rate YoY 1.3% 1.8% 1.8% 2.2%
2017-12-28 11:00 PM Inflation Rate YoY 1.3% 1.8% 2.3%
2018-02-01 11:00 PM Inflation Rate YoY
2018-03-02 11:00 PM Inflation Rate YoY


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.30 1.80 32.50 0.20 percent [+]
Inflation Rate Mom -0.70 -0.20 5.29 -2.52 percent [+]
Consumer Price Index CPI 102.72 103.40 103.59 2.63 Index Points [+]
Core Consumer Prices 103.19 103.49 103.49 9.61 Index Points [+]
Core Inflation Rate 1.40 1.60 30.50 -0.40 percent [+]
GDP Deflator 113.59 110.74 113.59 0.79 Index Points [+]
Producer Prices 103.01 102.81 108.97 5.08 Index Points [+]
Producer Prices Change 3.50 3.80 47.40 -4.70 percent [+]
Export Prices 85.68 87.22 168.80 14.92 Index Points [+]
Import Prices 82.87 83.17 116.89 4.81 Index Points [+]
Food Inflation 0.50 1.70 6434.02 -4.50 percent [+]
CPI Transportation 102.02 101.86 112.54 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 December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.30 1.80 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA




inflation rate by Country
Country Last
Australia 1.80 Sep/17
Brazil 2.80 Nov/17
Canada 1.40 Oct/17
China 1.70 Nov/17
Euro Area 1.50 Nov/17
France 1.20 Nov/17
Germany 1.80 Nov/17
India 4.88 Nov/17
Indonesia 3.30 Nov/17
Italy 0.90 Nov/17
Japan 0.20 Oct/17
Mexico 6.63 Nov/17
Netherlands 1.50 Nov/17
Russia 2.50 Nov/17
South Korea 1.30 Nov/17
Spain 1.70 Nov/17
Switzerland 0.80 Nov/17
Turkey 12.98 Nov/17
United Kingdom 3.10 Nov/17
United States 2.20 Nov/17