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

Consumer prices in South Korea went up 1 percent year-on-year in April of 2016, the same as in the previous month and in line with market expectations. Prices of food rose at a faster pace while cost of housing & utilities and transport fell further. Core inflation accelerated to 1.8 percent from 1.7 percent in the previous month. On a monthly basis, consumer prices edged up 0.1 percent, recovering from a 0.3 percent drop in March. Inflation Rate in South Korea averaged 7.62 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 1.00 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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% 1.0% 1% 1.0%
2016-05-31 11:00 PM May 1% 1.2%
2016-06-30 11:00 PM Jun 1.2%
2016-08-01 11:00 PM Jul 1.3%

South Korea Inflation Rate Steady at 1% in April


Consumer prices in South Korea rose 1.0 percent year-on-year in April of 2016, the same pace as in March and matching market expectations. Prices of food rose at a faster pace while cost of housing & utilities and transport fell further.

Year-on-year, prices increased for: food and non-alcoholic beverages (+3.4 percent in April from +3.1 percent in March), clothing & footwear (+2.3 percent from +1.8 percent); furnishing, household equipment & routine maintenance (+1.8 percent from +1.7 percent), recreation and culture (+0.6 percent from +1.6 percent), education (+1.6 percent from +1.7 percent), restaurants and hotels (+2.4 percent from +2.5 percent) and miscellaneous goods and services (+1.4 percent from +1.2 percent). In contrast, cost declined for: housing, water, electricity, gas and other fuels (-0.2 percent from -0.1 percent) and transport (-3.0 percent from -3.3 percent). While cost remained unchanged for communication, prices were steady for alcoholic beverages and tobacco (+0.7 percent) and health (+1.1 percent). 

By sector, prices of fresh food recorded the highest increase (+9.6 percent year-on-year), followed by agricultural, livestock and fisheries products (+ 5.5 percent) and service sector (+2.2 percent). In contrast, cost of industrial goods fell by 0.6 percent. 

Core inflation rate was recorded at 1.8 percent from a year earlier in April, as compared to 1.7 percent in the previous month.

On a monthly basis,  consumer prices rose 0.1 percent, following a 0.3 percent drop in March and in line with market consensus.

Rida | rida@tradingeconomics.com
5/3/2016 2:27:48 AM

South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.00 1.00 32.50 0.20 percent [+]
Inflation Rate Mom 0.10 -0.30 5.29 -2.52 percent [+]
Consumer Price Index CPI 110.61 110.46 110.76 2.90 Index Points [+]
Core Consumer Prices 112.65 112.50 112.65 10.70 Index Points [+]
Core Inflation Rate 1.80 1.70 30.50 -0.30 percent [+]
GDP Deflator 104.90 108.00 108.00 0.79 Index Points [+]
Producer Prices 98.60 98.42 108.97 5.07 Index Points [+]
Producer Prices Change -3.10 -3.30 47.40 -4.70 percent [+]
Export Prices 78.19 80.97 168.80 14.92 Index Points [+]
Import Prices 74.77 76.24 116.89 4.81 Index Points [+]
Food Inflation 3.40 3.30 6434.02 -4.50 percent [+]
Cpi Transportation 96.05 95.75 112.12 27.53 Index Points [+]




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