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

Consumer prices in South Korea increased 1.0 percent year-on-year in March of 2016, compared to 1.3 percent growth in the preceding month and below market expectations of 1.3 percent. Cost of food rose at a slower pace while housing & utilities and transport fell. Core inflation rate was recorded at 1.7 percent, down from 1.8 percent in February. On a monthly basis, prices edged down 0.3 percent. Inflation Rate in South Korea averaged 7.64 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
1.00 1.30 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 April of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-01 11:00 PM Jan 0.8% 1.3% 0.9% 0.92%
2016-03-02 11:00 PM Feb 1.3% 0.8% 1% 0.9%
2016-03-31 11:00 PM Mar 1.0% 1.3% 1.3% 1.4%
2016-05-02 11:00 PM Apr 1.0% 1% 1.0%
2016-05-31 11:00 PM May 1.2%
2016-06-30 11:00 PM Jun 1.49%

South Korea Inflation Rate Eases in March


Consumer prices in South Korea rose 1.0 percent year-on-year in March of 2016, slowing from a 1.3 percent rise in the preceding month and below market expectations of 1.3 percent. Cost of housing & utilities and transport declined further while prices of food eased.

Year-on-year, prices increased for: food and non-alcoholic beverages (+3.1 percent in March from +3.3 percent in February); clothing & footwear (+1.8 percent from +1.9 percent); furnishing, household equipment & routine maintenance (+1.7 percent from +1.8 percent), recreation and culture (+1.6 percent from +1.4 percent), education (+1.7 percent from +1.8 percent), restaurants and hotels (+2.5 percent from +2.9 percent) and miscellaneous goods and services (+1.2 percent from +1.5 percent). In contrast, cost declined for: housing, water, electricity, gas and other fuels (-0.1 percent from -0.1 percent), transport (-3.3 percent from -1.4 percent) and communication (-0.1 percent from -0.1 percent). Prices remained steady for alcoholic beverages and tobacco (+0.7 percent) and health (+1.1 percent). 

By sector, prices of fresh food recorded the highest increase (+9.7 percent), followed by agricultural, livestock and fisheries products (+ 5.4 percent) and service sector (+2.3 percent). In contrast, cost of industrial goods fell by 0.9 percent. 

Core inflation rate was recorded at 1.7 percent, as compared to 1.8 percent in the previous month.

On a monthly basis,  consumer prices dropped by 0.3 percent after gaining 0.5 percent in February and missing market consensus of a 0.1 percent increase.

Statistics Korea l Rida Husna | rida@tradingeconomics.com
4/1/2016 1:38:01 AM

South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.00 1.30 32.50 0.20 percent [+]
Inflation Rate Mom -0.30 0.50 5.29 -2.52 percent [+]
Consumer Price Index CPI 110.46 110.76 110.76 2.90 Index Points [+]
Core Consumer Prices 112.50 112.45 112.50 10.70 Index Points [+]
Core Inflation Rate 1.70 1.80 30.50 -0.30 percent [+]
GDP Deflator 104.90 108.00 108.00 0.79 Index Points [+]
Producer Prices 98.42 98.48 108.97 5.07 Index Points [+]
Producer Prices Change -3.30 -3.40 47.40 -4.70 percent [+]
Export Prices 80.72 81.99 168.80 14.92 Index Points [+]
Import Prices 76.20 76.16 116.89 4.81 Index Points [+]
Food Inflation 3.10 3.30 6434.02 -4.50 percent [+]
Cpi Transportation 95.75 96.18 112.12 27.53 Index Points [+]




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