South Korea Inflation Rate

The inflation rate in South Korea was recorded at 1.30 percent in March of 2014. Inflation Rate in South Korea is reported by the Statistics Korea. Inflation Rate in South Korea averaged 7.91 Percent from 1966 until 2014, reaching an all time high of 32.51 Percent in October of 1980 and a record low of 0.17 Percent in February of 1999. 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. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.30 1.00 32.51 0.17 0.97 | 2014/04 1966 - 2014 Percent Monthly
2010=100, NSA

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South Korea Inflation Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-30 11:00 PM South Korea
Inflation Rate YoY
Dec 2013 1.1% 0.9% 1.2% 0.94%
2014-02-03 11:00 PM South Korea
Inflation Rate YoY
Jan 2014 1.1% 1.1% 1.1% 1.1%
2014-03-03 11:00 PM South Korea
Inflation Rate YoY
Feb 2014 1.0% 1.1% 1.1% 1.04%
2014-04-01 12:00 AM South Korea
Inflation Rate YoY
Mar 2014 1.3% 1.0% 1.4% 1%
2014-05-01 12:00 AM South Korea
Inflation Rate YoY
Apr 2014 1.3% 0.97%
2014-06-03 12:00 AM South Korea
Inflation Rate YoY
May 2014 1.27%
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Prices Last Previous Highest Lowest Forecast Unit
Inflation Rate 1.30 2014-03-31 1.00 32.51 0.17 0.97 2014-04-30 Percent [+]
Core Inflation Rate 2.10 2014-03-15 1.70 30.50 -0.30 2.27 2014-04-30 Percent [+]
Consumer Price Index (CPI) 109.00 2014-03-15 108.80 109.00 2.90 108.94 2014-04-30 Index Points [+]
Core Consumer Prices 108.30 2014-03-15 108.00 108.30 10.70 108.46 2014-04-30 Index Points [+]
Export Prices 90.70 2014-03-15 91.02 168.80 14.92 90.89 2014-04-30 Index Points [+]
GDP Deflator 102.10 2013-11-15 104.80 116.90 4.20 98.75 2014-03-31 Index Points [+]
Import Prices 99.61 2014-03-15 100.12 116.89 4.81 99.91 2014-04-30 Index Points [+]
Inflation Rate Mom 0.18 2014-03-15 0.27 5.29 -2.52 0.11 2014-04-30 Percent [+]
Producer Prices 105.74 2014-03-15 105.77 108.97 5.08 105.70 2014-04-30 Index Points [+]
Producer Prices Change -0.50 2014-03-15 -0.94 47.40 -4.36 -0.36 2014-04-30 Percent [+]
[+]


South Korea Inflation Rate Accelerates in March

South Korean consumer prices rose in March of 2014 to an annual rate of 1.3 percent, up from 1 percent in February. The inflation rate rose for the first time in four months to a seven-month high, mainly due to higher childcare cost.

Year-on-year, the main upward pressures came from prices of clothing and footwear (4.1 percent), miscellaneous goods and services (4 percent), housing, water, electricity and gas (3 percent) and furnishing, household equipment and routine maintenance (2 percent). Education prices increased 1.9 percent.

In contrast, transport cost fell 1.6 percent in the year to March; communication prices decreased 0.2 percent and cost of food and alcoholic beverages decreased 0.1 percent each. 

On a monthly basis, consumer prices slowed to 0.2 percent from 0.27 percent in February. The index for food and non-alcoholic beverages, education and miscellaneous goods and services increased 0.3 percent, 0.8 percent and 0.9 percent, respectively. 

The index for alcoholic beverages and tobacco and transport decreased 0.1 percent, respectively, while cost of housing, water, electricity, gas and other fuels, communication and restaurants and hotels remained unchanged in March.

Core inflation, which strips out the volatile cost of food and oil, accelerated to 2.1 percent on year, up from 1.7 percent in the previous month.

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
4/1/2014 11:12:20 AM

RECENT RELEASES

South Korea Inflation Rate Slows in February
South Korea annual inflation rate eased to a four-month low 1 percent in February of 2014, down from 1.1 percent in the previous two months. Published on 2014-03-04

South Korea Inflation Rate Steady in January
In January of 2014, South Korean annual inflation rate remained steady at 1.1 percent. Prices of fresh food dropped 12.9 percent. Published on 2014-02-03


Inflation Rate | Notes
The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.


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