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

South Korea's consumer price inflation stood at 1.5 percent year-on-year in June of 2018, unchanged from the previous month and below market expectations of 1.7 percent. A sharp slowdown in food inflation offset a faster increase in transport prices. Inflation Rate in South Korea averaged 7.37 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 June Inflation Rate Steady at 1.5%


South Korea's consumer price inflation stood at 1.5 percent year-on-year in June of 2018, unchanged from the previous month and below market expectations of 1.7 percent. A sharp slowdown in food inflation offset a faster increase in transport prices.

In June, prices rose at a slower pace for food & non-alcoholic beverages (1.8 percent vs 2.5 percent in May); housing, water, electricity, gas & other fuels (0.6 percent vs 0.7 percent); education (1.3 percent vs 1.4 percent); health (0.1 percent vs 0.4 percent); clothing & footwear (0.7 percent vs 0.9 percent); and furnishings, household equipment & routine maintenance (1.8 percent vs 3.1 percent). In addition, prices of alcoholic beverages & tobacco were flat (vs 0.2 percent in May) while communication deflation deepened (-0.6 percent vs -0.3 percent).

On the other hand, inflation picked up for transport (4.1 percent vs 2.6 percent) and miscellaneous goods & services (1 percent vs 0.5 percent); while it was unchanged for both restaurants & hotels (at 2.7 percent) and recreation & culture (at 1.2 percent).

Core CPI, which excludes oil and agricultural products, increased by 1.2 percent in June, after a 1.3 percent gain in a month earlier. 

On a monthly basis, consumer prices unexpectedly fell by 0.2 percent in June, following a 0.1 percent rise in May and compared to consensus of a flat reading. It was the first monthly decline in three months.

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


Statistics Korea | Rida | rida@tradingeconomics.com
7/3/2018 11:19:21 AM


Recent Releases

South Korea Inflation Rate Slows to 1.5% in May
Consumer prices in South Korea increased by 1.5 percent year-on-year in May of 2018, following a 1.6 percent rise in the previous month. Figure came slightly below market consensus of 1.6 percent, mainly due to a slowdown in cost of housing & utilities and food & non-alcoholic beverages.
Published on 2018-06-01

South Korea Inflation Rate Rises As Expected
Consumer prices in South Korea increased by 1.6 percent year-on-year in April of 2018, following a 1.3 percent rise in the previous month and matching market expectations.
Published on 2018-05-02

South Korea Inflation Rate Rises Less than Estimated
Consumer prices in South Korea rose by 1.3 percent year-on-year in March of 2018, after 1.4 percent in the previous month. Figures came below market consensus of 1.6 percent, mainly due to a slowdown in cost of housing & utilities, food & non-alcoholic beverages and transport.
Published on 2018-04-03

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.
Published on 2018-03-06



Calendar GMT Actual Previous Consensus TEForecast
2018-05-01 11:00 PM Inflation Rate YoY 1.6% 1.3% 1.6% 1.4%
2018-05-31 11:00 PM Inflation Rate YoY 1.5% 1.6% 1.6% 1.7%
2018-07-02 11:00 PM Inflation Rate YoY 1.5% 1.5% 1.7% 1.6%
2018-07-31 11:00 PM Inflation Rate YoY 1.5% 1.5%
2018-09-03 11:00 PM Inflation Rate YoY 1.6%
2018-10-04 11:00 PM Inflation Rate YoY 1.7%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.50 32.50 0.20 percent [+]
Inflation Rate Mom -0.20 0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 104.20 104.38 104.38 2.63 Index Points [+]
Core Consumer Prices 104.38 104.46 104.46 9.61 Index Points [+]
Core Inflation Rate 1.20 1.30 30.50 -0.40 percent [+]
GDP Deflator 111.75 109.49 113.81 0.79 Index Points [+]
Producer Prices 104.40 104.15 108.97 5.08 Index Points [+]
Producer Prices Change 2.20 1.70 47.40 -4.70 percent [+]
Export Prices 85.68 84.93 168.80 14.92 Index Points [+]
Import Prices 88.26 87.13 116.89 4.81 Index Points [+]
Food Inflation 1.80 2.50 6434.02 -4.50 percent [+]
Cpi Housing Utilities 101.73 101.81 101.86 31.61 Index Points [+]
CPI Transportation 104.56 103.83 112.54 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 32.50 0.20 1966 - 2018 percent Monthly
2015=100, NSA




inflation rate by Country
Country Last
Australia 1.90 Mar/18
Brazil 4.39 Jun/18
Canada 2.20 May/18
China 1.90 Jun/18
Euro Area 2.00 Jun/18
France 2.00 Jun/18
Germany 2.10 Jun/18
India 5.00 Jun/18
Indonesia 3.12 Jun/18
Italy 1.40 Jun/18
Japan 0.70 May/18
Mexico 4.65 Jun/18
Netherlands 1.70 Jun/18
Russia 2.30 Jun/18
South Korea 1.50 Jun/18
Spain 2.30 Jun/18
Switzerland 1.10 Jun/18
Turkey 15.39 Jun/18
United Kingdom 2.40 May/18
United States 2.90 Jun/18


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