South Korea's annual inflation rate eased to 1.3 percent in December of 2018 from 2.0 percent in the previous month and below market expectations of 1.7 percent. It was the lowest inflation rate since March, amid a softer rise in cost of housing & utilities and food while transport prices declined. On a monthly basis, prices went down 0.3 percent after a 0.7 percent fall in November. Inflation Rate in South Korea averaged 7.32 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.
Inflation Rate in South Korea is expected to be 1.70 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 2.00 in 12 months time. In the long-term, the South Korea Inflation Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.