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

South Korea's consumer prices increased by 1.3 percent year-on-year in December 2016, the same as in the previous two months and in line with market expectations. Cost of transport rebounded while prices of housing and utilities dropped. Also, cost of health and food rose at a slower pace. On a monthly basis, consumer prices edged up 0.1 percent, following a 0.1 percent drop in November and below consensus of 0.2 percent gain. For the full 2016, prices advanced 1 percent, in line with government forecast. Inflation Rate in South Korea averaged 7.54 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.

South Korea Inflation Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-10-31 11:00 PM Oct 1.3% 1.2% 1.2% 1.2%
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 1.3% 1.5%
2017-03-02 11:00 PM Feb 1.5%
2017-04-03 11:00 PM Mar 1.7%




South Korea Inflation Rate Steady At 1.3% In December


South Korea's consumer prices increased by 1.3 percent year-on-year in December 2016, the same as in the previous two months and in line with market expectations. Cost of transport rebounded while prices of housing and utilities dropped. Also, cost of health and food rose at a slower pace. On a monthly basis, consumer prices edged up 0.1 percent, following a 0.1 percent drop in November and below consensus of 0.2 percent gain.

Year-on-year, prices jumped for transport (+1 percent from -0.2 percent in November), and rose at a faster pace for restaurants and hotels (+2.2 percent from +2.1 percent). In contrast, housing and utilities fell 1.3 percent (+0.1 percent in November) and cost increased at a slower pace for: food and non-alcoholic beverages (+4.1 percent from +4.5 percent in November) and health (+1 percent from +1.1 percent).

Annual core inflation rate decreased to 1.2 percent from 1.4 percent the previous month.

On a monthly basis, consumer prices edged up 0.1 percent, following a 0.1 percent drop in November and below market expectations of 0.2 percent drop. Prices of housing and utilities fell 1 percent while cost of transport rose 0.9 percent.

Statistics Korea l Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/29/2016 11:27:17 PM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.30 1.30 32.50 0.20 percent [+]
Inflation Rate Mom 0.10 -0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 111.64 111.35 111.64 2.90 Index Points [+]
Core Consumer Prices 101.86 113.24 113.35 10.70 Index Points [+]
Core Inflation Rate 1.20 1.40 30.50 -0.30 percent [+]
GDP Deflator 109.21 107.79 109.21 0.79 Index Points [+]
Producer Prices 100.79 99.97 108.97 5.07 Index Points [+]
Producer Prices Change 1.80 0.70 47.40 -4.70 percent [+]
Export Prices 86.13 83.99 168.80 14.92 Index Points [+]
Import Prices 83.14 79.74 116.89 4.81 Index Points [+]
Food Inflation 4.10 4.50 6434.02 -4.50 percent [+]
Cpi Transportation 99.40 98.57 112.12 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.30 1.30 32.50 0.20 1966 - 2016 percent Monthly
2010=100, NSA



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