South Korea’s annual inflation rate held at 2% in February 2026, unchanged from January and slightly below market expectations of 2.1%. The latest reading remained in line with the central bank’s target, indicating that overall price pressures were largely contained before the Iran conflict triggered renewed volatility in global energy markets. The escalating Middle East conflict rattled financial markets and pushed energy prices sharply higher, stoking inflation concerns and prompting policymakers to reassess their outlooks. South Korea is particularly vulnerable to such shocks as it relies heavily on crude oil and natural gas imports from the Middle East. Last week, the Bank of Korea held its policy rate steady at 2.5% for a sixth consecutive meeting and raised its inflation outlook for this year to 2.2% from an earlier projection of 2.1%. On a monthly basis, consumer prices rose 0.3% in February, easing from a 0.4% increase in January which was also the consensus forecast. source: Statistics Korea

Inflation Rate in South Korea remained unchanged at 2 percent in February. Inflation Rate in South Korea averaged 6.72 percent from 1966 until 2026, reaching an all time high of 32.50 percent in October of 1980 and a record low of -0.40 percent in September of 2019. 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 - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

Inflation Rate in South Korea remained unchanged at 2 percent in February. Inflation Rate in South Korea is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Inflation Rate is projected to trend around 2.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-02 11:00 PM
Inflation Rate YoY
Jan 2% 2.3% 2.1% 2.0%
2026-03-05 11:00 PM
Inflation Rate YoY
Feb 2% 2% 2.1% 1.9%
2026-04-01 11:00 PM
Inflation Rate YoY
Mar 2% 1.9%


Related Last Previous Unit Reference
CPI 118.40 118.03 points Feb 2026
Core Consumer Prices 116.93 116.56 points Feb 2026
Core Inflation Rate 2.50 2.30 percent Feb 2026
CPI Housing Utilities 117.83 117.36 points Feb 2026
CPI Transportation 117.42 116.94 points Feb 2026
Food Inflation 2.00 2.90 percent Feb 2026
Inflation Rate YoY 2.00 2.00 percent Feb 2026
Inflation Rate MoM 0.30 0.40 percent Feb 2026


South Korea Inflation Rate
In South Korea, the most important categories in the Consumer Price Index are: Housing, Water, Electricity, Gas & Other Fuels (17% of the total weight) and Food & Non-alcoholic Beverages (15%). The index also includes: Restaurants & Hotels (13%), Alcoholic Beverages & Tobacco (10%), Education (11%), Health (9%), and Recreation & Culture (6%). The components with the least weights are Miscellaneous Goods & Services at 5.42%, Furnishings, Household Equipment & Routine Maintenance at 5.39%, and Clothing & Footwear at 4.86%.
Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.00 32.50 -0.40 1966 - 2026 percent Monthly
NSA

News Stream
South Korea Inflation Holds Steady at 2%
South Korea’s annual inflation rate held at 2% in February 2026, unchanged from January and slightly below market expectations of 2.1%. The latest reading remained in line with the central bank’s target, indicating that overall price pressures were largely contained before the Iran conflict triggered renewed volatility in global energy markets. The escalating Middle East conflict rattled financial markets and pushed energy prices sharply higher, stoking inflation concerns and prompting policymakers to reassess their outlooks. South Korea is particularly vulnerable to such shocks as it relies heavily on crude oil and natural gas imports from the Middle East. Last week, the Bank of Korea held its policy rate steady at 2.5% for a sixth consecutive meeting and raised its inflation outlook for this year to 2.2% from an earlier projection of 2.1%. On a monthly basis, consumer prices rose 0.3% in February, easing from a 0.4% increase in January which was also the consensus forecast.
2026-03-05
South Korea Inflation Hits 5-Month Low
South Korea’s annual inflation rate eased to 2% in January 2026 from 2.3% in December, extending its slowdown for a second straight month and marking the lowest reading since August. The figure broadly matched market expectations and the central bank’s target, as softer fuel prices and favorable base effects helped curb price pressures. Last month, the Bank of Korea held its policy rate at 2.5% and removed language pointing to the possibility of further easing, though policymakers remain vigilant about currency volatility and the inflationary impact of a weak won. Price increases were strongest in miscellaneous goods & services (5%), food & non-alcoholic beverages (2.9%), furnishings, household equipment & routine maintenance (2.9%), restaurants & hotels (2.8%), and clothing & footwear (2.4%). On a monthly basis, consumer prices rose 0.4% in January, accelerating from 0.3% in December and in line with consensus forecasts.
2026-02-02
South Korea Inflation Rate Eases in December
South Korea’s annual inflation rate inched lower to 2.3% in December 2025 from 2.4% in the previous two months, marking the lowest level since September and aligning with market forecasts. However, the latest result remained above the central bank’s 2% target for a fourth straight month. Price growth eased for food & non-alcoholic beverages (3.6% vs 4.7% in November), furnishings, household equipment & routine maintenance (2.7% vs 2.8%), health (1.0% vs 1.1%), recreation & culture (1.2% vs 1.4%), and education (1.6% vs 1.7%). At the same time, the costs of alcohol and tobacco were flat after edging up 0.1% previously. Meanwhile, inflation held steady for clothing (at 2.3%), transport (at 3.2%), and communication (at 0.4%), but was higher for housing (1.3% vs 1.2%), restaurants & hotels (3.0% vs 2.9%), and miscellaneous goods & services (4.9% vs 4.2%). On a monthly basis, consumer prices increased 0.3%, reversing a 0.2% decline in November.
2025-12-30