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

Consumer prices in South Korea went up 0.4 percent year-on-year in August of 2016, slowing from a 0.7 percent rise in July and below market expectations of a 0.8 percent increase. The inflation slowed for the second consecutive month, reaching the lowest since April of 2015, due to a temporary cut in electricity tariffs. Inflation Rate in South Korea averaged 7.57 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. Inflation Rate in South Korea is reported by the Statistics Korea.

South Korea Inflation Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.70 32.50 0.20 1966 - 2016 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 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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-01 01:00 AM Jun 0.8% 0.8% 0.8% 0.7%
2016-08-01 11:00 PM Jul 0.7% 0.8% 0.8% 0.9%
2016-08-31 11:00 PM Aug 0.4% 0.7% 0.8% 0.8%
2016-10-04 11:00 PM Sep 0.4% 0.8% 0.7%
2016-10-30 11:00 PM Oct 0.9%
2016-11-30 11:00 PM Nov 0.9%

South Korea Inflation Rate at 16-Month Low of 0.4%


Consumer prices in South Korea went up 0.4 percent year-on-year in August of 2016, slowing from a 0.7 percent rise in July and below market expectations of a 0.8 percent increase. The inflation slowed for the second consecutive month, reaching the lowest since April of 2015, due to a temporary cut in electricity tariffs.

Year-on-year, cost of electricity, water and gas slumped 12.6 percent, following a 3.9 percent drop in July; prices of industrial goods fell 0.5 percent, the same as in July and prices of services rose 1.9 percent, also the same as in the previous month. Cost of agricultural, livestock and fisheries products increased at a faster 1 percent (0.2 percent in July) and cost of fresh food grew 2.8 percent (-0.4 percent in July).
 
Core inflation eased to 1.1 percent from 1.6 percent in July, the lowest since December of 2012.
 
On a monthly basis, consumer prices declined 0.1 percent, the first drop in five months. 

Joana Taborda | joana.taborda@tradingeconomics.com
9/1/2016 12:56:13 AM

South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 0.40 0.70 32.50 0.20 percent [+]
Inflation Rate Mom -0.10 0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 110.66 110.82 110.82 2.90 Index Points [+]
Core Consumer Prices 112.76 113.10 113.10 10.70 Index Points [+]
Core Inflation Rate 1.10 1.60 30.50 -0.30 percent [+]
GDP Deflator 107.79 108.46 108.46 0.79 Index Points [+]
Producer Prices 99.02 98.95 108.97 5.07 Index Points [+]
Producer Prices Change -1.70 -2.50 47.40 -4.70 percent [+]
Export Prices 77.41 78.80 168.80 14.92 Index Points [+]
Import Prices 74.44 75.85 116.89 4.81 Index Points [+]
Food Inflation 0.50 -0.10 6434.02 -4.50 percent [+]
Cpi Transportation 98.41 98.90 112.12 27.53 Index Points [+]




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