South Korea Inflation Rate 1966-2014 | Data | Chart | Calendar | Forecast

The inflation rate in South Korea was recorded at 1.40 percent in August of 2014. Inflation Rate in South Korea averaged 7.85 Percent from 1966 until 2014, 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 reported by the Statistics Korea.

   
 
 

South Korea Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.60 32.50 0.20 1966 - 2014 Percent Monthly
2010=100, NSA
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 - South Korea Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - South Korea Inflation Rate - was last refreshed on Thursday, September 18, 2014.


South Korea Inflation Rate Eases in August


South Korean annual inflation eased to 1.40 percent in August of 2014 from 1.60 percent in the previous month, below market expectations. Prices of housing and utilities slowed while food and transport cost fell.

In August of 2014, cost of housing and utilities rose 2.7 percent year-on-year, slightly easing from 2.8 percent in July. Clothing and footwear prices increased 4.6 percent, down from 5.2 percent in the previous month. Health cost also decelerated in August (+0.8 percent compared with 1.3 percent in July). In contrast, prices accelerated for furnishing, household equipment and routine maintenance (+2.4 percent in August from +2.3 percent in July) and recreation and culture (+0.9 percent from +0.3 percent), while education cost rose 1.7 percent, the same rate recorded in July. 

Additional downward pressures came from transport prices (-1.9 percent from - 0.9 percent), communication (-0.1 percent from 0.0 percent), food and non-alcoholic beverages (-0.5 percent from +1.1 percent) and alcoholic beverages and tobacco (-0.1 percent from - 0.2 percent).

On a month-on-month basis, the inflation rate accelerated to 0.2 percent in August of 2014 from 0.1 percent in July. Price pressures came mainly from recreation and leisure (1.3 percent), food and non-alcoholic beverages (0.8 percent); housing, water and utilities (0.2 percent) and furnishing, household equipment & routine maintenance (0.1 percent).

Core CPI, which strips out volatile energy and food prices, gained 2.4 percent year-on-year in August of 2014 after increasing 2.2 percent in July.

The central bank of  Korea forecasts inflation for 2014 to accelerate to 1.9 percent from 1.3 percent last year.

Statistics Korea l Rida l rida@tradingeconomics.com
9/2/2014 10:46:05 AM


Recent Releases

South Korea Inflation Slows in July
South Korean annual inflation slowed to 1.60 percent in July of 2014 from 1.70 percent in the previous month. Prices of clothing and footwear rose the most while education costs remained stable in the month. Published on 2014-08-01

South Korea Inflation Steady in June
South Korean annual inflation came in at 1.70 percent in June of 2014, steady compared with the same figure in May. Prices of clothing and footwear rose the most while cost of transportation and alcoholic beverages and tobacco decreased slightly. Published on 2014-07-01


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-03 12:00 AM South Korea
Inflation Rate YoY
May 2014 1.7% 1.5% 1.6% 1.39%
2014-07-01 12:00 AM South Korea
Inflation Rate YoY
Jun 2014 1.7% 1.7% 1.9% 1.82%
2014-08-01 12:00 AM South Korea
Inflation Rate YoY
Jul 2014 1.6% 1.7% 1.6% 1.55%
2014-09-02 12:00 AM South Korea
Inflation Rate YoY
Aug 2014 1.4% 1.6% 1.6% 1.47%
2014-10-01 12:00 AM South Korea
Inflation Rate YoY
Sep 2014 1.4% 1.37%


Prices Last Previous Highest Lowest Unit
Inflation Rate 1.40 1.60 32.50 0.20 Percent [+]
Inflation Rate Mom 0.17 0.15 5.29 -2.52 Percent [+]
Consumer Price Index CPI 109.50 109.30 109.50 2.90 Index Points [+]
Core Inflation Rate 2.40 2.20 30.50 -0.30 Percent [+]
Core Consumer Prices 109.20 109.10 109.20 10.70 Index Points [+]
GDP Deflator 103.00 104.60 104.80 4.20 Index Points [+]
Producer Prices 105.75 105.60 108.97 5.08 Index Points [+]
Producer Prices Change 0.20 0.06 47.40 -4.36 Percent [+]
Export Prices 87.12 86.99 168.80 14.92 Index Points [+]
Import Prices 94.16 94.94 116.89 4.81 Index Points [+]
Food Inflation -0.45 1.06 6434.02 -4.50 Percent [+]


Inflation Rate Reference Previous Highest Lowest Unit
Australia 3.00 Jun/14 2.90 23.90 -1.30 Percent [+]
Brazil 6.51 Aug/14 6.50 6821.31 1.65 Percent [+]
Canada 2.10 Jul/14 2.40 21.60 -17.80 Percent [+]
China 2.00 Aug/14 2.30 28.40 -2.20 Percent [+]
Euro Area 0.40 Aug/14 0.40 5.00 -0.70 Percent [+]
France 0.40 Aug/14 0.50 18.80 -0.70 Percent [+]
Germany 0.80 Aug/14 0.85 11.54 -7.62 Percent [+]
India 7.80 Aug/14 7.96 11.16 7.31 Percent [+]
Indonesia 3.99 Aug/14 4.53 82.40 -1.17 Percent [+]
Italy -0.10 Aug/14 0.09 25.64 -2.44 Percent [+]
Japan 3.40 Jul/14 3.60 25.00 -2.52 Percent [+]
Mexico 4.15 Aug/14 4.07 179.73 2.91 Percent [+]
Netherlands 1.00 Aug/14 0.89 11.19 -1.30 Percent [+]
Russia 7.60 Aug/14 7.50 2333.30 3.60 Percent [+]
South Korea 1.40 Aug/14 1.60 32.50 0.20 Percent [+]
Spain -0.50 Aug/14 -0.34 28.43 -1.37 Percent [+]
Switzerland 0.10 Aug/14 0.00 11.92 -1.37 Percent [+]
Turkey 9.54 Aug/14 9.32 138.71 -4.01 Percent [+]
United Kingdom 1.50 Aug/14 1.60 8.50 0.50 Percent [+]
United States 1.70 Aug/14 2.00 23.70 -15.80 Percent [+]





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