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

The inflation rate in South Korea was recorded at 1.60 percent in July of 2014. Inflation Rate in South Korea averaged 7.86 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.

   
 
 
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South Korea Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.60 1.70 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 Friday, August 22, 2014.


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.

In July of 2014, clothing and footwear prices gained 5.2 percent on yearly basis from 4.6 percent in June. Costs of furnishing, household equipment and routine maintenance up 2.3 percent from 1.7 percent a month ago. Prices of food and non-alcoholic beverages eased to 1.1 percent in the month from 1.5 percent in June. Prices of utilities also slowed to 2.8 percent from 3.0 percent in the previous month while costs of education in July unchanged from the preceding month at 1.7 percent.

Falling prices only happened to alcoholic beverages and transportation, respectively by 0.2 percent and 0.9 percent.

On a month-on-month basis, inflation rose to 0.1 percent in July of 2014, compared with a 0.1 percent fall in the previous month. Price pressures in July mostly came from health and leisure costs as well as restaurants and hotels prices, which respectively up by 0.3 percent, 1.7 percent and 0.2 percent. While prices of utilities and clothing and footwear were down in July by 0.1 percent respectively, costs of education, tobacco, transport, communication, furnishing and miscellaneous goods and services were relatively unchanged.
 
Core CPI, which excludes volatile energy and food prices, slightly rose 2.2 percent year on year in July after gaining 2.1 percent a month ago.

The central bank of  Korea forecasts  the country’s inflation for 2014 may accelerate to 1.9 percent from  a 1.3 percent increase last year.

Statistics Korea l Rida l rida@tradingeconomics.com
8/1/2014 2:27:09 AM


Recent Releases

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

South Korea Inflation Up to 19-Month High
South Korean annual inflation accelerated for the third straight month to 1.70 percent in May of 2014 from 1.50 percent in April, driven by higher food prices. Published on 2014-06-03


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-05-01 12:00 AM South Korea
Inflation Rate YoY
Apr 2014 1.5% 1.3% 1.5% 0.97%
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 1.6% 1.47%


Prices Last Previous Highest Lowest Unit
Inflation Rate 1.60 1.70 32.50 0.20 Percent [+]
Inflation Rate Mom 0.15 -0.13 5.29 -2.52 Percent [+]
Consumer Price Index (CPI) 109.30 109.10 109.30 2.90 Index Points [+]
Core Inflation Rate 2.20 2.10 30.50 -0.30 Percent [+]
Core Consumer Prices 109.10 108.90 109.10 10.70 Index Points [+]
GDP Deflator 104.60 102.10 104.80 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 86.99 86.71 168.80 14.92 Index Points [+]
Import Prices 94.97 95.44 116.89 4.81 Index Points [+]
Food Inflation 0.75 -0.30 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 6.50 Jul/14 6.52 6821.31 1.65 Percent [+]
Canada 2.10 Jul/14 2.40 21.60 -17.80 Percent [+]
China 2.30 Jul/14 2.30 28.40 -2.20 Percent [+]
Euro Area 0.40 Jul/14 0.50 5.00 -0.70 Percent [+]
France 0.50 Jul/14 0.50 18.80 -0.70 Percent [+]
Germany 0.85 Jul/14 1.04 11.54 -7.62 Percent [+]
India 7.96 Jul/14 7.31 11.16 7.31 Percent [+]
Indonesia 4.53 Jul/14 6.70 82.40 -1.17 Percent [+]
Italy 0.09 Jul/14 0.28 25.64 -2.44 Percent [+]
Japan 3.60 Jun/14 3.70 25.00 -2.52 Percent [+]
Mexico 4.07 Jul/14 3.75 179.73 2.91 Percent [+]
Netherlands 0.89 Jul/14 0.93 11.19 -1.30 Percent [+]
Russia 7.50 Jul/14 7.80 2333.30 3.60 Percent [+]
South Korea 1.60 Jul/14 1.70 32.50 0.20 Percent [+]
Spain -0.34 Jul/14 0.09 28.43 -1.37 Percent [+]
Switzerland 0.00 Jul/14 0.00 11.92 -1.37 Percent [+]
Turkey 9.32 Jul/14 9.16 138.71 -4.01 Percent [+]
United Kingdom 1.60 Jul/14 1.90 8.50 0.50 Percent [+]
United States 2.00 Jul/14 2.10 23.70 -15.80 Percent [+]





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