South Korea Inflation Rate

The inflation rate in South Korea was recorded at 1.70 percent in May of 2014. Inflation Rate in South Korea averaged 7.88 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
1.70 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.


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.

In June of 2014, all expenditure categories saw higher prices except for alcoholic beverages and tobacco as well as transportation. Clothing and footwear prices rose 4.6 percent yoy from 4.2 percent in May. Costs of food and non-alcoholic beverages increased 1.5 percent from 0.8 percent in the previous month. Higher prices of utilities, including housing, water and electricity also rose 4.6 percent after easing to 3 percent in May. While education costs and furnishing, household equipment and routine maintenance up 1.7 percent respectively, prices of restaurant and hotel also up 1.2 percent.

Falling prices only happened to alcoholic beverages and tobacco as well as transportation for 0.2 percent and 0.1 percent respectively.

On a month-on-month basis, inflation decreased 0.1 percent in June of 2014, compared with a 1.7 percent gain in the previous month. Inflationary upward pressures mostly came from clothing and footwear (0.6 percent from 0.5 percent). Higher prices also saw on housing, water, electricity, gas and other fuels as well as restaurants and hotels, which increased 0.1 percent respectively in June. Price of miscellaneous goods and services also 0.1 percent higher in the month.

The core inflation rate, which excludes volatile oil and agricultural products rose 2.1 percent yoy,  slighly lower than 2.2 percent increase in May.

Statistics Korea l Rida l rida@tradingeconomics.com
7/1/2014 9:05:33 AM


Recent Releases

South Korea Inflation Up to 19-Month High
South Korean annual inflation accelerated for the third straight month to 1.70 percent in May of 2014 from 1.50 percent in April, driven by higher food prices. Published on 2014-06-03

South Korea Inflation Up to 8-Month High
South Korean annual inflation rate accelerated for the second straight month to 1.5 percent in April of 2014, up from 1.3 percent in March, driven by higher cost of industrial goods. Published on 2014-05-01


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 1.5% 1.3% 1.5% 0.97%
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 1.7% 1.6% 1.55%


Prices Last Previous Highest Lowest Unit
Inflation Rate 1.70 1.70 32.50 0.20 Percent [+]
Inflation Rate Mom -0.13 0.17 5.29 -2.52 Percent [+]
Consumer Price Index (CPI) 109.10 109.20 109.20 2.90 Index Points [+]
Core Inflation Rate 2.20 2.30 30.50 -0.30 Percent [+]
Core Consumer Prices 108.90 108.80 108.90 10.70 Index Points [+]
GDP Deflator 104.60 102.10 104.80 4.20 Index Points [+]
Producer Prices 105.60 105.53 108.97 5.08 Index Points [+]
Producer Prices Change 0.06 -0.03 47.40 -4.36 Percent [+]
Export Prices 86.60 86.80 168.80 14.92 Index Points [+]
Import Prices 95.50 95.49 116.89 4.81 Index Points [+]
Food Inflation 0.75 -0.30 6434.02 -4.50 Percent [+]





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