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

Consumer prices in South Korea increased 2 percent year-on-year in January of 2017, following a 1.3 percent rise in the previous three months and beating market expectations of 1.5 percent. It is the highest inflation rate since October of 2012, mainly boosted by food and fuel cost. The inflation hit the central bank target of 2 percent for the first time since it was introduced in 2016. 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)
2016-11-30 11:00 PM Nov 1.3% 1.3% 1.5% 1.4%
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 2.0% 2.1%
2017-04-03 11:00 PM Mar 1.7%
2017-05-01 11:00 PM Apr 1.5%




South Korea Inflation Rate At Over 4-Year High Of 2%


Consumer prices in South Korea increased 2 percent year-on-year in January of 2017, following a 1.3 percent rise in the previous three months and beating market expectations of 1.5 percent. It is the highest inflation rate since October of 2012, mainly boosted by food and fuel cost. The inflation hit the central bank target of 2 percent for the first time since it was introduced in 2016.

Year-on-year, cost of food and non-alcoholic beverages went up 5.3 percent (4.1 percent in December), the highest in four months. Prices also increased faster for transport (3.8 percent from 1 percent); miscellaneous goods and services (3.3 percent from 2.8 percent); education (1.4 percent from 1.3 percent) and recreation and culture (2.4 percent from 1.4 percent). In addition, inflation was steady for restaurants and hotels (2.2 percent) and cost fell less for housing and utilities (-0.3 percent from -1.3 percent).
 
Annual core inflation went up to 1.5 percent from 1.2 percent in December.
 
On a monthly basis, consumer prices increased 0.9 percent after edging up 0.1 percent in December and beating expectations of a 0.4 percent increase. 

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
2/1/2017 11:48:01 PM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 2.00 1.30 32.50 0.20 percent [+]
Inflation Rate Mom 0.90 0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 102.43 101.56 102.43 2.63 Index Points [+]
Core Consumer Prices 102.49 101.86 113.35 10.70 Index Points [+]
Core Inflation Rate 1.50 1.20 30.50 -0.30 percent [+]
GDP Deflator 109.21 107.79 109.21 0.79 Index Points [+]
Producer Prices 102.17 100.79 108.97 5.07 Index Points [+]
Producer Prices Change 3.70 1.80 47.40 -4.70 percent [+]
Export Prices 87.31 86.33 168.80 14.92 Index Points [+]
Import Prices 84.91 83.14 116.89 4.81 Index Points [+]
Food Inflation 5.30 4.10 6434.02 -4.50 percent [+]
Cpi Transportation 101.35 99.40 112.12 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 1.30 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA



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Latvia 2.90 Jan/17
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Libya 29.40 Sep/16
Liechtenstein 0.30 Jan/17
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Macedonia 0.60 Jan/17
Madagascar 7.00 Dec/16
Malawi 18.20 Jan/17
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Maldives 1.80 Dec/16
Mali -0.80 Dec/16
Malta 1.40 Jan/17
Mauritania 2.80 Dec/16
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Mexico 4.72 Jan/17
Moldova 3.00 Jan/17
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Montenegro 0.90 Dec/16
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Mozambique 20.56 Jan/17
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North Korea 55.00 Jul/13
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Pakistan 3.66 Jan/17
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Panama 1.60 Jan/17
Papua New Guinea 6.80 Sep/16
Paraguay 1.90 Jan/17
Peru 3.10 Jan/17
Philippines 2.70 Jan/17
Poland 1.80 Jan/17
Portugal 1.30 Jan/17
Puerto Rico 0.50 Dec/16
Qatar 1.20 Jan/17
Republic of the Congo 3.70 Apr/15
Romania 0.10 Jan/17
Russia 5.00 Jan/17
Rwanda 12.00 Jan/17
Sao Tome and Principe 4.70 Jan/17
Saudi Arabia -0.40 Jan/17
Senegal 1.80 Jan/17
Serbia 2.40 Jan/17
Seychelles -0.60 Jan/17
Sierra Leone 15.26 Nov/16
Singapore 0.60 Jan/17
Slovakia 0.70 Jan/17
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South Africa 6.60 Jan/17
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