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.

South Korea Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-04 11:00 PM Inflation Rate YoY 1.9% 1.4% 1.55% 1.5%
2018-10-31 11:00 PM Inflation Rate YoY 2% 1.9% 1.7% 1.6%
2018-12-03 11:00 PM Inflation Rate YoY 2.0% 2% 2.2% 2.1%
2018-12-30 11:00 PM Inflation Rate YoY 1.3% 2.0% 1.7% 1.7%
2019-01-31 11:00 PM Inflation Rate YoY 1.3%
2019-03-04 11:00 PM Inflation Rate YoY
2019-04-01 11:00 PM Inflation Rate YoY 1.8%



South Korea Inflation Rate at 9-Month Low of 1.3%

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.

Year-on-year, prices rose slower for housing and utilities (1.3 percent vs 1.6 percent in November); food and non-alcoholic beverages (4.2 percent vs 5.4 percent); clothing and footwear (0.5 percent vs 0.9 percent); recreation and culture (0.8 percent vs 1.5 percent); furnishing, household equipment & routine maintenance (2.0 percent vs 2.4 percent); and alcoholic beverages and tobacco (0.1 percent vs 0.3 percent). In addition, transport prices declined (-0.9 percent from 2.6 percent) while cost of health dropped at a faster pace (-0.3 percent vs -0.2 percent). On the other hand, prices went up faster for restaurant and hotels (3.1 percent vs 2.5 percent) while inflation was steady for both miscellaneous goods and services (at 0.9 percent) and education (at 1.5 percent). Meantime, cost of communication continued to fall (-1.9 percent, the same pace as in November).
 
Core CPI, which excludes oil and agricultural products, increased by 1.1 percent, after a 1.2 percent rise in November.
 
On a monthly basis, consumer prices declined 0.3 percent, following a 0.7 percent fall in November, missing market consensus of a 0.1 percent increase.
 
 
 


Statistics Korea l Chusnul Ch Manan | chusnul@tradingeconomics.com
12/31/2018 3:38:21 AM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.30 2.00 32.50 0.20 percent [+]
Inflation Rate Mom -0.30 -0.70 5.29 -2.52 percent [+]
Consumer Price Index CPI 104.35 104.73 105.60 2.63 Index Points [+]
Core Consumer Prices 104.73 104.75 104.75 9.61 Index Points [+]
Core Inflation Rate 1.10 1.20 30.50 -0.40 percent [+]
GDP Deflator 113.94 111.35 113.94 0.79 Index Points [+]
Producer Prices 104.67 105.42 108.97 5.08 Index Points [+]
Producer Prices Change 1.60 2.20 47.40 -4.70 percent [+]
Export Prices 84.07 85.82 168.80 14.92 Index Points [+]
Import Prices 85.01 88.01 116.89 4.81 Index Points [+]
Food Inflation 4.20 5.40 6434.02 -4.50 percent [+]
Inflation Expectations 2.40 2.40 4.60 2.40 percent [+]
Cpi Housing Utilities 102.22 102.30 102.40 31.61 Index Points [+]
CPI Transportation 101.34 104.64 112.54 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.30 2.00 32.50 0.20 1966 - 2018 percent Monthly
2015=100, NSA




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 1.70 Nov/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.80 Nov/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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