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

South Korea’s inflation rate jumped to 2.6 percent in August of 2017 from 2.2 percent in the previous month, well above market expectations of 2.2 percent. It was the second time in five months that the inflation rate stands above the central bank's target of 2.0 percent. The fresh food index increased a sharp 18.3 percent after rising 12.3 percent in July, mostly affected by a rise in seafood prices. On a monthly basis, consumer prices jumped 0.6 percent (vs 0.2 percent in July), also significantly surpassing consensus expectations of a 0.2 percent rise. Inflation Rate in South Korea averaged 7.46 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 5-1/2-Year High Of 2.6% in August


South Korea’s inflation rate jumped to 2.6 percent in August of 2017 from 2.2 percent in the previous month, well above market expectations of 2.2 percent. It was the second time in five months that the inflation rate stands above the central bank's target of 2.0 percent. The fresh food index increased a sharp 18.3 percent after rising 12.3 percent in July, mostly affected by a rise in seafood prices. On a monthly basis, consumer prices jumped 0.6 percent (vs 0.2 percent in July), also significantly surpassing consensus expectations of a 0.2 percent rise.

In August, prices increased at a faster pace for: food and non-alcoholic beverages (7.4 percent from 5.6 percent in July); restaurants & lodging (2.5 percent from 0.3 percent); and other products and services (2.6 percent from 0.1 percent). Health (1.3 percent from 0.0 percent); and education costs (1.1 percent from 0.0 percent) rose sharply after remaining unchanged in the previous month.

Costs rebounded for housewares (0.9 percent from -1.1 percent) and traffic (1.6 percent vs -0.7 percent). Meanwhile, costs rose less compared to a year earlier for: liquor & tobacco (1.6 percent vs 1.8 percent) and communications (0.3 percent vs 0.5 percent).

Inflation was steady for clothing and footwear (1.2 percent) and utilities (3.9 percent).

On a monthly basis, consumer prices rose 0.6 percent after rising 0.2 percent in July, significantly outpacing market expectations of a 0.2 percent rise.

Core inflation, which excludes volatile items such as oil and food, rose 1.8 percent after also rising 1.8 percent in the previous month. 

Mario | mario@tradingeconomics.com
8/31/2017 11:55:35 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-03 11:00 PM Inflation Rate YoY 1.9% 2% 2% 2%
2017-08-01 12:00 AM Inflation Rate YoY 2.2% 1.9% 2% 2.1%
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 2.6% 2.2%
2017-10-31 11:00 PM Inflation Rate YoY 2.1%
2017-11-30 11:00 PM Inflation Rate YoY 2.2%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 2.60 2.20 32.50 0.20 percent [+]
Inflation Rate Mom 0.60 0.20 5.29 -2.52 percent [+]
Consumer Price Index CPI 103.48 102.86 103.48 2.63 Index Points [+]
Core Consumer Prices 103.42 103.34 103.42 9.61 Index Points [+]
Core Inflation Rate 1.80 1.80 30.50 -0.40 percent [+]
GDP Deflator 110.74 111.09 111.09 0.79 Index Points [+]
Producer Prices 102.20 101.85 108.97 5.08 Index Points [+]
Producer Prices Change 3.20 3.00 47.40 -4.70 percent [+]
Export Prices 85.71 85.30 168.80 14.92 Index Points [+]
Import Prices 81.22 80.01 116.89 4.81 Index Points [+]
Food Inflation 7.40 5.60 6434.02 -4.50 percent [+]
CPI Transportation 100.23 99.81 112.54 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.60 2.20 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA




inflation rate by Country

Last
Australia 1.90 Jun/17
Brazil 2.46 Aug/17
Canada 1.40 Aug/17
China 1.80 Aug/17
Euro Area 1.50 Aug/17
France 0.90 Aug/17
Germany 1.80 Aug/17
India 3.36 Aug/17
Indonesia 3.82 Aug/17
Italy 1.20 Aug/17
Japan 0.40 Jul/17
Mexico 6.66 Aug/17
Netherlands 1.40 Aug/17
Russia 3.30 Aug/17
South Korea 2.60 Aug/17
Spain 1.60 Aug/17
Switzerland 0.50 Aug/17
Turkey 10.68 Aug/17
United Kingdom 2.90 Aug/17
United States 1.90 Aug/17