South Korea Inflation Rate  1966-2016 | Data | Chart | Calendar | Forecast

Consumer prices in South Korea rose 0.7 percent year-on-year in July of 2016, following 0.8 percent growth in the previous month and below market expectations of 0.8 percent. It was the lowest reading since September of 2015, as prices of food and transport declined while cost of housing and utilities rose at a faster pace. Core inflation was recorded at 1.6 percent, down from 1.7 percent in the previous month. On a monthly basis, consumer prices edged up 0.1 percent after remaining unchanged in a month earlier. Inflation Rate in South Korea averaged 7.60 percent from 1966 until 2016, 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
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Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.80 32.50 0.20 1966 - 2016 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 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-31 11:00 PM May 0.8% 1% 0.9% 0.9%
2016-07-01 01:00 AM Jun 0.8% 0.8% 0.8% 0.7%
2016-08-01 11:00 PM Jul 0.7% 0.8% 0.8% 0.9%
2016-08-31 11:00 PM Aug 0.7% 0.8%
2016-10-03 11:00 PM Sep 0.9%
2016-10-30 11:00 PM Oct 0.9%

South Korea Inflation Rate at 10-Month Low in July


Consumer prices in South Korea rose 0.7 percent year-on-year in July of 2016, following 0.8 percent growth in the previous month and below market expectations of 0.8 percent. It was the lowest reading since September of 2015, as prices of food and transport declined while cost of housing and utilities rose at a faster pace. Core inflation was recorded at 1.6 percent, down from 1.7 percent in the previous month. On a monthly basis, consumer prices edged up 0.1 percent after remaining unchanged in a month earlier.

Year-on-year, upward prices pressure came from: housing, water, electricity, gas and other fuels (+0.9 percent from +0.2 percent in June); alcoholic beverages and tobacco (+0.3 percent from +0.6 percent); clothing & footwear (+1.6 percent from +2.2 percent); furnishing, household equipment & routine maintenance (+2.1 percent from +1.8 percent); health (+1.1 percent from +1.3 percent); communication (+0.1 percent from +0.1 percent); recreation and culture (+1.4 percent from +1.8 percent); education (+1.6 percent from +1.6 percent); restaurants and hotels (+2.4 percent from +2.4 percent) and miscellaneous goods and services (+1.6 percent from +1.9 percent). In contrast, cost declined for food and non-alcoholic beverages (-0.1 percent from -0.3 percent) and transport (-3.0 percent from -2.1 percent).  

Statistics Korea l Yekaterina Guchshina | yekaterina@tradingeconomics.com
8/2/2016 12:36:40 AM

South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 0.70 0.80 32.50 0.20 percent [+]
Inflation Rate Mom 0.10 0.00 5.29 -2.52 percent [+]
Consumer Price Index CPI 110.82 110.67 110.82 2.90 Index Points [+]
Core Consumer Prices 113.10 112.98 113.10 10.70 Index Points [+]
Core Inflation Rate 1.60 1.70 30.50 -0.30 percent [+]
GDP Deflator 108.46 104.90 108.46 0.79 Index Points [+]
Producer Prices 98.95 99.01 108.97 5.07 Index Points [+]
Producer Prices Change -2.40 -2.70 47.40 -4.70 percent [+]
Export Prices 78.80 80.60 168.80 14.92 Index Points [+]
Import Prices 75.85 78.03 116.89 4.81 Index Points [+]
Food Inflation -0.10 -0.30 6434.02 -4.50 percent [+]
Cpi Transportation 98.90 98.38 112.12 27.53 Index Points [+]




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