South Korea's annual inflation rate rose to 0.6 percent in April of 2019 from 0.4 percent in the previous month and above market expectations of 0.4 percent. It was the highest inflation rate in three months, amid a faster rise in prices of food and a softer decline in cost of transport. On a monthly basis, consumer prices increased 0.4 percent, rebounding from a 0.2 percent drop in March, and higher than market consensus of a 0.2 percent rise. Inflation Rate in South Korea averaged 7.27 percent from 1966 until 2019, 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.
Inflation Rate in South Korea is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in South Korea to stand at 1.40 in 12 months time. In the long-term, the South Korea Inflation Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.