South Korea Inflation Rate 1966-2014 | Data | Chart | Calendar | Forecast

The inflation rate in South Korea was recorded at 1.60 percent in July of 2014. Inflation Rate in South Korea averaged 7.86 Percent from 1966 until 2014, 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.

   
 
 
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South Korea Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.60 1.70 32.50 0.20 1966 - 2014 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 - South Korea Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - South Korea Inflation Rate - was last refreshed on Tuesday, September 2, 2014.


South Korea Inflation Rate Eases in August


South Korean annual inflation eased to 1.40 percent in August of 2014 from 1.60 percent in the previous month and below market expectations. Costs of housing and utilities were slightly down in the month while prices of education and clothing and footwear remained stable.

In August of 2014, costs of housing and utilities rose 2.7 percent year-on-year, slightly easing from 2.8 percent in July. Prices also accelerated for furnishing, household equipment and routine maintenance (+2.4 percent from +2.3 percent), health costs (+ 0.8 percent  from  +1.3 percent), and recreation and culture (+0.9 percent from +0.3 percent). In contrast, prices declined for transport (-1.9 percent from - 0.9 percent), communication (-0.1 percent from 0.0 percent),  food and non-alcoholic beverages (-0.5 percent from  +1.1 percent) and alcoholic beverages and tobacco (-0.1 percent from - 0.2 percent).

Clothing and footwear prices remained stable compared to the preceding month at 4.6 percent. The same held true for education costs, which unchanged at  1.7 percent in July of 2014 compared to the previous month.

On a month-on-month basis, inflation accelerated to 0.2 percent in August of 2014, up from 0.1 percent in July. Price pressures in August came from recreation and leisure (1.3 percent), food and non-alcoholic beverages (0.8 percent); housing, water and utilities (0.2 percent) and furnishing, household equipment & routine maintenance (0.1 percent).

Core CPI, which strips out volatile energy and food prices, gained 2.4 percent year-on-year in August of 2014 after increasing 2.2 percent in July.

The central bank of  Korea forecasts  inflation for 2014 may accelerate to 1.9 percent from  a 1.3 percent increase last year.


Statistics Korea l Rida l rida@tradingeconomics.com
9/2/2014 5:06:12 AM


Recent Releases

South Korea Inflation Slows in July
South Korean annual inflation slowed to 1.60 percent in July of 2014 from 1.70 percent in the previous month. Prices of clothing and footwear rose the most while education costs remained stable in the month. Published on 2014-08-01

South Korea Inflation Steady in June
South Korean annual inflation came in at 1.70 percent in June of 2014, steady compared with the same figure in May. Prices of clothing and footwear rose the most while cost of transportation and alcoholic beverages and tobacco decreased slightly. Published on 2014-07-01


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-03 12:00 AM South Korea
Inflation Rate YoY
May 2014 1.7% 1.5% 1.6% 1.39%
2014-07-01 12:00 AM South Korea
Inflation Rate YoY
Jun 2014 1.7% 1.7% 1.9% 1.82%
2014-08-01 12:00 AM South Korea
Inflation Rate YoY
Jul 2014 1.6% 1.7% 1.6% 1.55%
2014-09-02 12:00 AM South Korea
Inflation Rate YoY
Aug 2014 1.4% 1.6% 1.6% 1.47%
2014-10-01 12:00 AM South Korea
Inflation Rate YoY
Sep 2014 1.37%


Prices Last Previous Highest Lowest Unit
Inflation Rate 1.60 1.70 32.50 0.20 Percent [+]
Inflation Rate Mom 0.15 -0.13 5.29 -2.52 Percent [+]
Consumer Price Index (CPI) 109.30 109.10 109.30 2.90 Index Points [+]
Core Inflation Rate 2.20 2.10 30.50 -0.30 Percent [+]
Core Consumer Prices 109.10 108.90 109.10 10.70 Index Points [+]
GDP Deflator 104.60 102.10 104.80 4.20 Index Points [+]
Producer Prices 105.75 105.60 108.97 5.08 Index Points [+]
Producer Prices Change 0.20 0.06 47.40 -4.36 Percent [+]
Export Prices 86.99 86.71 168.80 14.92 Index Points [+]
Import Prices 94.97 95.44 116.89 4.81 Index Points [+]
Food Inflation 0.75 -0.30 6434.02 -4.50 Percent [+]


Inflation Rate Reference Previous Highest Lowest Unit
Australia 3.00 Jun/14 2.90 23.90 -1.30 Percent [+]
Brazil 6.50 Jul/14 6.52 6821.31 1.65 Percent [+]
Canada 2.10 Jul/14 2.40 21.60 -17.80 Percent [+]
China 2.30 Jul/14 2.30 28.40 -2.20 Percent [+]
Euro Area 0.30 Aug/14 0.40 5.00 -0.70 Percent [+]
France 0.50 Jul/14 0.50 18.80 -0.70 Percent [+]
Germany 0.80 Aug/14 0.85 11.54 -7.62 Percent [+]
India 7.96 Jul/14 7.31 11.16 7.31 Percent [+]
Indonesia 3.99 Aug/14 4.53 82.40 -1.17 Percent [+]
Italy -0.10 Aug/14 0.09 25.64 -2.44 Percent [+]
Japan 3.40 Jul/14 3.60 25.00 -2.52 Percent [+]
Mexico 4.07 Jul/14 3.75 179.73 2.91 Percent [+]
Netherlands 0.89 Jul/14 0.93 11.19 -1.30 Percent [+]
Russia 7.50 Jul/14 7.80 2333.30 3.60 Percent [+]
South Korea 1.60 Jul/14 1.70 32.50 0.20 Percent [+]
Spain -0.50 Aug/14 -0.34 28.43 -1.37 Percent [+]
Switzerland 0.00 Jul/14 0.00 11.92 -1.37 Percent [+]
Turkey 9.32 Jul/14 9.16 138.71 -4.01 Percent [+]
United Kingdom 1.60 Jul/14 1.90 8.50 0.50 Percent [+]
United States 2.00 Jul/14 2.10 23.70 -15.80 Percent [+]





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