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

South Korea's annual inflation eased to 1.4 percent in August of 2018 from 1.5 percent in the previous three months but slightly above market expectations of 1.3 percent. It was the lowest inflation rate since March, as cost of transport rose at a softer pace while cost of housing & utilities fell. Inflation Rate in South Korea averaged 7.36 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 at 5-Month Low of 1.4%


South Korea's annual inflation eased to 1.4 percent in August of 2018 from 1.5 percent in the previous three months but slightly above market expectations of 1.3 percent. It was the lowest inflation rate since March, as cost of transport rose at a softer pace while cost of housing & utilities fell.

Year-on-year, inflation eased for: transport (4.6 percent vs 4.7 percent in July); restaurants & hotels (2.6 percent vs 2.7 percent); clothing & footwear (0.6 percent vs 1.3 percent); furnishings, household equipment & routine maintenance (3.1 percent vs 3.5 percent); and alcoholic beverages & tobacco (0.1 percent vs 0.2 percent). In addition, cost fell for: housing, water, electricity, gas & other fuels (-0.8 percent vs 0.8 percent); health (-0.9 percent vs -1 percent); and communications (-1.6 percent from -1.5 percent).

Meantime, inflation was steady for education (at 1.4 percent), while picked up for recreation & culture (0.6 percent vs a flat reading) and miscellaneous goods & services (0.9 percent vs 0.6 percent). Also, prices of food & non-alcoholic beverages increased by 3 percent, twice faster than a 1.5 percent gain in a month earlier. It was the highest food inflation since September 2017. 

Core CPI, which excludes oil and agricultural products, increased by 1 percent, the same as in July. 

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

On a monthly basis, consumer prices went up 0.5 percent, following a 0.2 percent rise in July while  markets estimated 0.4 percent.


Statistics Korea l Rida | rida@tradingeconomics.com
9/4/2018 9:42:28 AM



Calendar GMT Actual Previous Consensus TEForecast
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% 1.7% 1.6%
2018-09-03 11:00 PM Inflation Rate YoY 1.4% 1.5% 1.3% 1.4%
2018-10-04 11:00 PM Inflation Rate YoY 1.4% 1.5%
2018-10-31 11:00 PM Inflation Rate YoY 1.6%
2018-12-03 11:00 PM Inflation Rate YoY 1.6%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.40 1.50 32.50 0.20 percent [+]
Inflation Rate Mom 0.50 0.20 5.29 -2.52 percent [+]
Consumer Price Index CPI 104.91 104.37 104.91 2.63 Index Points [+]
Core Consumer Prices 104.31 104.47 104.47 9.61 Index Points [+]
Core Inflation Rate 0.90 1.10 30.50 -0.40 percent [+]
GDP Deflator 111.35 111.75 113.81 0.79 Index Points [+]
Producer Prices 105.43 104.83 108.97 5.08 Index Points [+]
Producer Prices Change 3.00 2.90 47.40 -4.70 percent [+]
Export Prices 87.61 87.68 168.80 14.92 Index Points [+]
Import Prices 89.40 89.57 116.89 4.81 Index Points [+]
Food Inflation 3.00 1.50 6434.02 -4.50 percent [+]
Cpi Housing Utilities 100.53 101.95 101.95 31.61 Index Points [+]
CPI Transportation 104.85 104.54 112.54 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 September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.50 32.50 0.20 1966 - 2018 percent Monthly
2015=100, NSA




inflation rate by Country
Country Last
Argentina 34.40 Aug/18
Australia 2.10 Jun/18
Brazil 4.19 Aug/18
Canada 3.00 Jul/18
China 2.30 Aug/18
Euro Area 2.00 Aug/18
France 2.30 Aug/18
Germany 2.00 Aug/18
India 3.69 Aug/18
Indonesia 3.20 Aug/18
Italy 1.60 Aug/18
Japan 1.30 Aug/18
Mexico 4.90 Aug/18
Netherlands 2.30 Aug/18
Russia 3.10 Aug/18
Saudi Arabia 2.20 Jul/18
Singapore 0.60 Jul/18
South Africa 4.90 Aug/18
South Korea 1.40 Aug/18
Spain 2.20 Aug/18
Switzerland 1.20 Aug/18
Turkey 17.90 Aug/18
United Kingdom 2.70 Aug/18
United States 2.70 Aug/18


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