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

South Korea’s inflation rate slowed to 1.9 percent in April of 2017 from 2.2 percent in the previous month, slightly below expectations of 2.0 percent. The inflation rate returned to the central bank target of 2.0 percent after surpassing it in March for the second time in 4.5 years. The result was mainly explained by softer growth in prices of food & beverages and transport. On a monthly basis, consumer prices decreased by 0.1 percent. Inflation Rate in South Korea averaged 7.50 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)
2017-03-02 11:00 PM Feb 1.9% 2.0% 1.6% 1.9%
2017-04-03 11:00 PM Mar 2.2% 1.9% 2% 2%
2017-05-01 11:00 PM Apr 1.9% 2.2% 2% 2.1%
2017-05-31 11:00 PM May 1.9% 2.4%
2017-07-03 11:00 PM Jun 2.4%
2017-07-31 11:00 PM Jul 2.5%




South Korea Annual Inflation Returns To Target


South Korea’s inflation rate slowed to 1.9 percent in April of 2017 from 2.2 percent in the previous month, slightly below expectations of 2.0 percent. The inflation rate returned to the central bank target of 2.0 percent after surpassing it in March for the second time in 4.5 years. The result was mainly explained by softer growth in prices of food & beverages and transport. On a monthly basis, consumer prices decreased by 0.1 percent.

Prices increased at a softer pace for food & non-alcoholic beverages (2.6 percent from 3.5 percent in March), clothing & footwear (0.2 percent from 1.2 percent), health (0.7 percent from 1.1 percent), furnishings & household equipment (0.9 percent from 1.0 percent), transport (5.4 percent from 6.4 percent), restaurants & hotels (2.2 percent from 2.3 percent), and miscellaneous goods & services (2.5 percent from 2.8 percent). Also, communication prices decreased 0.3 percent after rising by 0.2 percent in the previous month.

In contrast, prices increased at a faster pace for liquor & tobacco (1.5 percent from 1.4 percent in March) and recreation & culture (1.9 percent from 1.0 percent).

Meanwhile, inflation rate was steady at 1.1 percent for utilities and at 1.3 for education. 

On a monthly basis, consumer prices retreated 0.1 percent after remaining unchanged in March.

Mario | mario@tradingeconomics.com
5/1/2017 11:29:50 PM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.90 2.20 32.50 0.20 percent [+]
Inflation Rate Mom -0.10 0.00 5.29 -2.52 percent [+]
Consumer Price Index CPI 102.66 102.79 102.79 2.63 Index Points [+]
Core Consumer Prices 102.84 102.75 102.84 9.61 Index Points [+]
Core Inflation Rate 1.30 1.40 30.50 -0.30 percent [+]
GDP Deflator 107.37 109.73 109.73 0.79 Index Points [+]
Producer Prices 102.58 102.66 108.97 5.08 Index Points [+]
Producer Prices Change 4.00 4.30 47.40 -4.70 percent [+]
Export Prices 85.46 85.00 168.80 14.92 Index Points [+]
Import Prices 81.79 81.39 116.89 4.81 Index Points [+]
Food Inflation 2.60 3.50 6434.02 -4.50 percent [+]
Cpi Transportation 101.30 101.85 112.54 27.63 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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.90 2.20 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA



inflation rate by Country

Last
Australia 2.10 Mar/17
Brazil 4.08 Apr/17
Canada 1.60 Apr/17
China 1.20 Apr/17
Euro Area 1.90 Apr/17
France 1.20 Apr/17
Germany 2.00 Apr/17
India 2.99 Apr/17
Indonesia 4.17 Apr/17
Italy 1.90 Apr/17
Japan 0.20 Mar/17
Mexico 5.82 Apr/17
Netherlands 1.60 Apr/17
Russia 4.10 Apr/17
South Korea 1.90 Apr/17
Spain 2.60 Apr/17
Switzerland 0.40 Apr/17
Turkey 11.87 Apr/17
United Kingdom 2.70 Apr/17
United States 2.20 Apr/17