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

Consumer prices in South Korea increased 1.8 percent year-on-year in October of 2017, easing from a 2.1 percent rise in September and below market expectations of 1.9 percent. It is the lowest inflation rate so far this year amid a slowdown in prices of housing, utilities and food after cost of agricultural and meat products have begun to stabilize after a summer drought. Inflation Rate in South Korea averaged 7.44 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 Down to 10-Month Low of 1.8%


Consumer prices in South Korea increased 1.8 percent year-on-year in October of 2017, easing from a 2.1 percent rise in September and below market expectations of 1.9 percent. It is the lowest inflation rate so far this year amid a slowdown in prices of housing, utilities and food after cost of agricultural and meat products have begun to stabilize after a summer drought.

Year-on-year, prices increased at a slower pace for: housing and utilities (1.8 percent from 3.9 percent in September); food and non-alcoholic beverages (1.7 percent from 3.3 percent); housing and utilities (1.8 percent from 3.9 percent); health (0.6 percent from 0.8 percent); clothing and footwear (1.1 percent from 1.2 percent); communication (0.2 percent from 0.3 percent) and alcoholic beverages and tobacco (1.6 percent from 1.8 percent). 

On the other hand, prices rose faster for restaurants and hotels (2.5 percent from 2.4 percent); transport (3.6 percent from 2.7 percent); education (1 percent); recreation and culture (0.3 percent from -1.4 percent); miscellaneous goods and services (3.1 percent from 2.7 percent) and furnishings, household equipment and routine maintenance (1.9 percent from 0.8 percent); 

Annual core inflation, which excludes volatile items such as energy and food was steady at 1.6 percent. 

On a monthly basis, consumer prices fell 0.2 percent after increasing 0.1 percent in September.

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
11/1/2017 5:12:32 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-31 11:00 PM Inflation Rate YoY 2.6% 2.2% 2.2% 2.1%
2017-10-01 11:00 PM Inflation Rate YoY 2.1% 2.6% 2.2% 2.2%
2017-10-31 11:00 PM Inflation Rate YoY 1.8% 2.1% 1.9% 2.2%
2017-11-30 11:00 PM Inflation Rate YoY 1.8% 2.2%
2017-12-28 11:00 PM Inflation Rate YoY 2.3%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.80 2.10 32.50 0.20 percent [+]
Inflation Rate Mom -0.20 0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 103.40 103.59 103.59 2.63 Index Points [+]
Core Consumer Prices 103.49 103.30 103.49 9.61 Index Points [+]
Core Inflation Rate 1.60 1.60 30.50 -0.40 percent [+]
GDP Deflator 110.74 111.09 111.09 0.79 Index Points [+]
Producer Prices 103.01 102.81 108.97 5.08 Index Points [+]
Producer Prices Change 3.50 3.80 47.40 -4.70 percent [+]
Export Prices 87.17 86.58 168.80 14.92 Index Points [+]
Import Prices 83.17 82.62 116.89 4.81 Index Points [+]
Food Inflation 1.70 3.30 6434.02 -4.50 percent [+]
CPI Transportation 101.86 100.89 112.54 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 November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.80 2.10 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA




inflation rate by Country
Country Last
Australia 1.80 Sep/17
Brazil 2.70 Oct/17
Canada 1.40 Oct/17
China 1.90 Oct/17
Euro Area 1.40 Oct/17
France 1.10 Oct/17
Germany 1.60 Oct/17
India 3.58 Oct/17
Indonesia 3.58 Oct/17
Italy 1.00 Oct/17
Japan 0.70 Sep/17
Mexico 6.37 Oct/17
Netherlands 1.30 Oct/17
Russia 2.70 Oct/17
South Korea 1.80 Oct/17
Spain 1.60 Oct/17
Switzerland 0.70 Oct/17
Turkey 11.90 Oct/17
United Kingdom 3.00 Oct/17
United States 2.00 Oct/17