South Korea Inflation Rate

The inflation rate in South Korea was recorded at 1.20 percent in April of 2013. Inflation Rate in South Korea is reported by the Korea National Statistical Office. Historically, from 1966 until 2013, South Korea Inflation Rate averaged 8.04 Percent reaching an all time high of 32.51 Percent in October of 1980 and a record low of 0.17 Percent in February of 1999. 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 includes a chart with historical data for South Korea Inflation Rate.

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South Korea Inflation Rate
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South Korea Inflation Rate Down to 1.2% in April
Joana Taborda | joana.taborda@tradingeconomics.com  |  5/2/2013 10:05:44 AM


In South Korea, the year-on-year inflation rate slowed to 1.2 percent from 1.3 percent recorded in March due to falling oil and vegetable prices. Inflation stayed comfortably below the Central Bank of Korea's target range of 2.5-3.5 percent, leaving room for further monetary easing to spur growth.

On the year-on-year basis, the inflation rate slowed to 1.2 percent in April of 2013 from 1.3 percent recorded in March of 2013. Prices of Housing, water, electricity, gas and other fuels, Clothing and footwear and Alcoholic beverages and tobacco recorded the highest increases (3.8, 2.6 and 1.7 percent respectively, from 3.8, 3.2 and 1.9 recorded in March). The index for Food and non-alcoholic beverages increased 1.2 percent in April from 0.8 percent recorded last month. Prices of Restaurant and hotels, Education, and Health grew 1.6 percent, 1.2 percent and 1 percent respectively from 1.4 percent, 1.6 percent and 0.1 percent recorded in the previous month. Recreation and culture costs increased 0.5 percent, from 0.9 in March, and prices for Furnishings, household equipment and routine maintenance increased by 0.1 percent from a 0.1 percent drop in March. Prices of Miscellaneous goods and services decreased 1.8 percent in April of 2013 and Transport prices fell 1.5 percent from the same period last year. Communication prices dropped 0.1 percent. 

On the month-on-month basis, the inflation rate decreased 0.1 percent in April of 2013, following a 0.2 percent decline in the preceding month. The index for Food and non-alcoholic beverages, Housing, water, electricity, gas and other fuels and Education increased 0.1 percent respectively in April. The index for Alcoholic beverages and tobacco and Communication decreased 0.1 percent respectively in April. The index for Furnishings, household equipment & routine maintenance and Miscellaneous goods and services went down 0.4 percent respectively in April. The index for Clothing and footwear, Health and Transport decreased 1.0 percent, 0.2 percent and 0.9 respectively in April.
 
Core inflation, which excludes volatile oil and food prices, rose 1.4 percent on-year in April, down from a 1.5 percent rise in the previous month.

ARCHIVE
South Korea Inflation Rate Slows in March to 1.3%
In South Korea, the year-on-year inflation rate slowed to 1.3 percent in March of 2013, well below the central bank’s expectations, mainly due to a slight increase in food prices and a decline in prices of transport, furnishings and miscellaneous goods and services. 2013-04-03
South Korea inflation down to 1.4 percent in December
The Consumer Price Index in 2012 was 106.3(2010=100), up 2.2 percent from the previous year. The Consumer Price Index was 106.7(2010=100) in December 2012. The index increased 0.2 percent from the preceding month and rose 1.4 percent from December 2011. 2013-01-21
South Korea Inflation Down to 1.4% in February
In South Korea, the inflation rate slowed to 1.4 percent in February of 2013, well below the central bank’s expectations, mainly due to a slightly increase in food prices and a decrease in prices of miscellaneous services. 2013-03-04
South Korea Inflation Down to 1.6 Percent in November
The Consumer Price Index was 106.5 (2010=100) in November 2012. The index decreased 0.4 percent from the preceding month and rose 1.6 percent from November 2011. 2012-12-14
South Korea Inflation Up to 1.5 Percent in January
The Consumer Price Index was 107.3 (2010=100) in January 2013. The index increased 0.6 percent from the preceding month and rose 1.5 percent from January 2012. 2013-02-04



Inflation Rate | Notes

The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.






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