South Korea Inflation Rate  1966-2016 | Data | Chart | Calendar | Forecast

South Korea's consumer prices increased by 1.3 percent year-on-year in November 2016, the same as in October but below market expectations of a 1.5 percent growth. The inflation rate remained the highest since February this year, as cost of housing and utilities rebounded and prices of health advanced further, while cost of food, and restaurants and hotels rose at a slower pace. On a monthly basis, consumer prices fell 0.1 percent, following a 0.1 percent gain in October and in line with consensus. 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)
2016-10-04 11:00 PM Sep 1.2% 0.4% 0.8% 0.7%
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 1.4%
2017-02-01 11:00 PM Jan 1.16%
2017-03-02 11:00 PM Feb 1.06%




South Korea Inflation Rate Steady At Highest Since February


South Korea's consumer prices increased by 1.3 percent year-on-year in November 2016, the same as in October but below market expectations of a 1.5 percent growth. The inflation rate remained the highest since February this year, as cost of housing and utilities rebounded and prices of health advanced further, while cost of food, and restaurants and hotels rose at a slower pace.

Year-on-year, prices of housing and utilities edged up 0.1 percent, recovering from a 0.4 percent fall in October; and cost of health advanced further by 1.1 percent, compared to a 0.9 percent growth the previous month. Meanwhile, prices rose at a slower pace for: Food and non-alcoholic beverages (+4.5 percent from +5 percent in October) and restaurants and hotels (+2.1 percent from +2.2 percent). By contrast, transport prices continued to fall (-0.2 percent from -1.4 percent in October).

Annual core inflation rate decreased to 1.4 percent from 1.5 percent the previous month.

On a monthly basis, consumer prices fell 0.1 percent, following a 0.1 percent gain in October and in line with market expectations. Prices of housing and utilities rose 0.6 percent while cost of food decreased 1.6 percent.

Statistics Korea l Joana Ferreira | joana.ferreira@tradingeconomics.com
11/30/2016 11:41:44 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 111.35 111.48 111.48 2.90 Index Points [+]
Core Consumer Prices 113.24 113.35 113.35 10.70 Index Points [+]
Core Inflation Rate 1.40 1.50 30.50 -0.30 percent [+]
GDP Deflator 107.79 108.46 108.46 0.79 Index Points [+]
Producer Prices 99.45 99.24 108.97 5.07 Index Points [+]
Producer Prices Change -0.20 -1.10 47.40 -4.70 percent [+]
Export Prices 80.53 78.05 168.80 14.92 Index Points [+]
Import Prices 77.87 74.64 116.89 4.81 Index Points [+]
Food Inflation 4.50 5.00 6434.02 -4.50 percent [+]
Cpi Transportation 98.57 98.08 112.12 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 December of 2016.

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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