South Korea's annual inflation rate was unchanged at 0.7 percent in June 2019, below market expectations of a 1.0 percent increase. Cost of food and non-alcoholic beverage rose the most in five months while transport prices fell further. On a monthly basis, consumer prices declined 0.2 percent, after increasing 0.2 percent in the previous month and compared to market forecasts of a 0.1 percent gain. Inflation Rate in South Korea averaged 7.25 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 1.30 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 1.30 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.