South Korea Inflation Rate  1966-2017 | Data | Chart | Calendar | Forecast

South Korea’s inflation rate jumped to 2.2 percent in July of 2017 from 1.9 percent in the previous month, above market expectations of 2.0 percent. It was the first time in four months that the inflation rate stands above the central bank's target of 2.0 percent. Prices of food & non-alcoholic beverages rose 5.6 percent in July, while those of utilities increased 3.9 percent. On a monthly basis, consumer prices edged up 0.2 percent following a 0.1 percent decline in June. Inflation Rate in South Korea averaged 7.47 percent from 1966 until 2017, 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
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South Korea Inflation Rate At 4-Month High Of 2.2% In July


South Korea’s inflation rate rose 2.2 percent from a year earlier in July of 2017, faster than a 1.9 percent rise in a month earlier and above market consensus of a 2.0 percent increase. It was the first time since March that the inflation rate stands above the central bank's target of 2.0 percent. Prices increased at a faster pace for food and non-alcoholic beverages and housing while cost of transport went up further.

In July, prices increased at a faster pace for: food and non-alcoholic beverages (5.6 percent from 4.6 percent), alcoholic beverages and tobacco (1.8 percent from 1.7 percent), clothing and footwear (1.2 percent from 1.1 percent); housing & utilities (3.9 percent from 1.7 percent), restaurants and hotels (2.4 percent from 2.3 percent) and miscellaneous goods and services (2.7 percent from 2.2 percent). Also, cost rebounded for communication  (0.3 percent from -0.1 percent).

Meantime, cost rose less than in a month earlier for: furnishing, household equipment and routine maintenance (0.5 percent from 1.7 percent), transport (0.6 percent from 2.0 percent) and education (1.1 percent from 1.2 percent).

Inflation was steady for health (1.2 percent). In contrast, cost declined for recreation and culture (-0.6 percent from -1.0 percent), 

On a monthly basis, consumer prices rose 0.2 percent after declining 0.1 percent in June. 

Core inflation, which excludes volatile items such as oil and food, rose  1.8 percent from 1.3 percent in June. 

Statistics Korea l Rida Husna | rida@tradingeconomics.com
8/1/2017 7:35:34 AM



Calendar GMT Actual Previous Consensus Forecast (i)
2017-05-31 11:00 PM May 2% 1.9% 2% 2%
2017-07-03 11:00 PM Jun 1.9% 2% 2% 2%
2017-08-01 12:00 AM Jul 2.2% 1.9% 2% 2.1%
2017-08-31 11:00 PM Aug 2.2% 2.1%
2017-10-01 11:00 PM Sep 2.2%
2017-10-31 11:00 PM Oct 2.1%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 2.20 1.90 32.50 0.20 percent [+]
Inflation Rate Mom 0.20 -0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 102.86 102.67 102.86 2.63 Index Points [+]
Core Consumer Prices 103.34 103.16 103.34 9.61 Index Points [+]
Core Inflation Rate 1.80 1.30 30.50 -0.30 percent [+]
GDP Deflator 111.09 107.37 111.09 0.79 Index Points [+]
Producer Prices 101.79 102.17 108.97 5.08 Index Points [+]
Producer Prices Change 2.80 3.40 47.40 -4.70 percent [+]
Export Prices 85.22 84.35 168.80 14.92 Index Points [+]
Import Prices 79.92 79.61 116.89 4.81 Index Points [+]
Food Inflation 5.60 4.60 6434.02 -4.50 percent [+]
CPI Transportation 99.81 100.47 112.54 27.63 Index Points [+]


South Korea Inflation Rate Notes

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 August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.20 1.90 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA



inflation rate by Country

Last
Australia 1.90 Jun/17
Brazil 2.71 Jul/17
Canada 1.20 Jul/17
China 1.40 Jul/17
Euro Area 1.30 Jul/17
France 0.70 Jul/17
Germany 1.70 Jul/17
India 2.36 Jul/17
Indonesia 3.88 Jul/17
Italy 1.10 Jul/17
Japan 0.40 Jun/17
Mexico 6.44 Jul/17
Netherlands 1.30 Jul/17
Russia 3.90 Jul/17
South Korea 2.20 Jul/17
Spain 1.50 Jul/17
Switzerland 0.30 Jul/17
Turkey 9.79 Jul/17
United Kingdom 2.60 Jul/17
United States 1.70 Jul/17