South Korea Inflation Rate  1966-2018 | Data | Chart | Calendar | Forecast

South Korea's annual inflation accelerated to 1.9 percent in September of 2018 from 1.4 percent in the previous month and well above market expectations of 1.55 percent. It was the highest inflation in a year, mainly nudged by agricultural products (+7.9 percent), particularly vegetables (+14.5 percent) due to heavy rain. Also, electricity prices rose 20.2 percent. Inflation Rate in South Korea averaged 7.34 percent from 1966 until 2018, 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
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.



South Korea Inflation Jumps to 1-Year High


South Korea's annual inflation accelerated to 1.9 percent in September of 2018 from 1.4 percent in the previous month and well above market expectations of 1.55 percent. It was the highest inflation in a year, mainly nudged by agricultural products (+7.9 percent), particularly vegetables (+14.5 percent) due to heavy rain. Also, electricity prices rose 20.2 percent.

Year-on-year, prices advanced faster for food and non-alcoholic beverages (5.2 percent from 3 percent in August); education (1.5 percent from 1.4 percent) and recreation and culture (1.9 percent from 0.6 percent). In addition, cost rebounded for housing and utilities (0.7 percent from -0.8 percent).

On the other hand, prices slowed for restaurant and hotels (2.4 percent from 2.6 percent); transport (4.1 percent from 4.6 percent) and furniture and household equipment (2.4 percent from 3.1 percent). Meanwhile, inflation was steady for clothing and footwear (0.6 percent, the same as in August) and miscellaneous goods and services (0.9 percent); and prices continued to decline for health (-0.5 percent from -0.9 percent) and communication (-1.7 percent from -1.6 percent). 

For 2018, the Bank of Korea sees inflation at 1.7 percent. 

On a monthly basis, consumer prices went up 0.7 percent, following a 0.5 percent gain in August and above market consensus of 0.3 percent.


Statistics Korea l Agna Gabriel | agna.gabriel@tradingeconomics.com
10/5/2018 8:47:02 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-07-31 11:00 PM Inflation Rate YoY 1.5% 1.5% 1.7% 1.6%
2018-09-03 11:00 PM Inflation Rate YoY 1.4% 1.5% 1.3% 1.4%
2018-10-04 11:00 PM Inflation Rate YoY 1.9% 1.4% 1.55% 1.5%
2018-10-31 11:00 PM Inflation Rate YoY 1.9% 1.6%
2018-12-03 11:00 PM Inflation Rate YoY 1.6%
2018-12-30 11:00 PM Inflation Rate YoY 1.7%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.90 1.40 32.50 0.20 percent [+]
Inflation Rate Mom 0.70 0.20 5.29 -2.52 percent [+]
Consumer Price Index CPI 105.60 104.91 105.60 2.63 Index Points [+]
Core Consumer Prices 104.59 104.31 104.59 9.61 Index Points [+]
Core Inflation Rate 0.90 1.10 30.50 -0.40 percent [+]
GDP Deflator 111.35 111.75 113.81 0.79 Index Points [+]
Producer Prices 105.43 104.94 108.97 5.08 Index Points [+]
Producer Prices Change 3.00 3.00 47.40 -4.70 percent [+]
Export Prices 88.02 87.61 168.80 14.92 Index Points [+]
Import Prices 90.69 89.40 116.89 4.81 Index Points [+]
Food Inflation 5.20 3.00 6434.02 -4.50 percent [+]
Cpi Housing Utilities 102.11 100.53 102.11 31.61 Index Points [+]
CPI Transportation 104.99 104.85 112.54 27.63 Index Points [+]


South Korea Inflation Rate

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 October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.40 32.50 0.20 1966 - 2018 percent Monthly
2015=100, NSA




inflation rate by Country
Country Last
Argentina 34.40 Aug/18
Australia 2.10 Jun/18
Brazil 4.53 Sep/18
Canada 2.80 Aug/18
China 2.50 Sep/18
Euro Area 2.10 Sep/18
France 2.20 Sep/18
Germany 2.30 Sep/18
India 3.77 Sep/18
Indonesia 2.88 Sep/18
Italy 1.40 Sep/18
Japan 1.30 Aug/18
Mexico 5.02 Sep/18
Netherlands 1.90 Sep/18
Russia 3.40 Sep/18
Saudi Arabia 2.20 Aug/18
Singapore 0.70 Aug/18
South Africa 4.90 Aug/18
South Korea 1.90 Sep/18
Spain 2.30 Sep/18
Switzerland 1.00 Sep/18
Turkey 24.52 Sep/18
United Kingdom 2.40 Sep/18
United States 2.30 Sep/18


Related

Latest