South Korea Inflation Rate  1966-2017 | Data | Chart | Calendar | Forecast

Consumer prices in South Korea increased 1.9 percent year-on-year in February of 2017, following a 2 percent rise in the previous month and beating expectations of a 1.6 percent upswing. The inflation rate fell from the central bank target of 2 percent after hitting it in the previous month for the first time since it was introduced in 2016. On a monthly basis, inflation eased to 0.3 percent from 0.9 percent in January. Inflation Rate in South Korea averaged 7.52 percent from 1966 until 2017, 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.

South Korea Inflation Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-29 11:00 PM Dec 1.3% 1.3% 1.3% 1.4%
2017-02-01 11:00 PM Jan 2.0% 1.3% 1.5% 1.5%
2017-03-02 11:00 PM Feb 1.9% 2.0% 1.6% 1.9%
2017-04-03 11:00 PM Mar 1.9% 2.3%
2017-05-01 11:00 PM Apr 2.2%
2017-05-31 11:00 PM May 2.4%




South Korea Inflation Rate Slows To 1.9% In February 


Consumer prices in South Korea increased 1.9 percent year-on-year in February of 2017, following a 2 percent rise in the previous month and beating expectations of a 1.6 percent upswing. The inflation rate fell from the central bank target of 2 percent after hitting it in the previous month for the first time since it was introduced in 2016.

The slowdown in annual inflation was mainly explained by food and non-alcoholic beverages, which rose at a slower 2.9 percent year-on-year following a 5.3 percent increase in the previous month. Inflation also eased for recreation and culture (1.1 percent from 2.4 percent in January); education (1.3 percent from 1.4 percent); miscellaneous goods & services (3.1 percent from 3.3 percent); and clothing & footwear (1.1 percent from 1.3 percent).

In contrast, prices rose at a faster pace in transport (6 percent from 3.8 percent in January); alcoholic beverages & tobacco (1.4 percent from 0.8 percent); and restaurants & hotels (2.3 percent from 2.2 percent).

Inflation in communication remained at 0.8 percent in February, while prices of furnishings, household equipment & routine maintenance (+0.4 percent from -0.3 percent in January) and housing, water, electricity, gas & other fuels (0.0 percent from -0.3 percent) left the deflationary zone.

On a monthly basis, inflation eased to 0.3 percent from 0.9 percent in January.

Mario | mario@tradingeconomics.com
3/3/2017 1:21:29 AM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.90 2.00 32.50 0.20 percent [+]
Inflation Rate Mom 0.30 0.90 5.29 -2.52 percent [+]
Consumer Price Index CPI 102.77 102.43 102.77 2.63 Index Points [+]
Core Consumer Prices 102.73 102.49 113.35 10.70 Index Points [+]
Core Inflation Rate 1.50 1.50 30.50 -0.30 percent [+]
GDP Deflator 109.21 107.79 109.21 0.79 Index Points [+]
Producer Prices 102.62 102.31 108.97 5.07 Index Points [+]
Producer Prices Change 4.20 3.90 47.40 -4.70 percent [+]
Export Prices 85.96 87.37 168.80 14.92 Index Points [+]
Import Prices 83.12 84.98 116.89 4.81 Index Points [+]
Food Inflation 5.30 4.10 6434.02 -4.50 percent [+]
Cpi Transportation 101.96 101.35 112.12 27.53 Index Points [+]



South Korea Inflation Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.90 2.00 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA



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Serbia 3.20 Feb/17
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