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

South Korea’s inflation rate advanced to 2 percent in May of 2017 from 1.9 percent in the previous month, consistent with market expectations. It was the second straight month that the inflation rate remained at the central bank's target of 2.0 percent. The result was mainly explained by mild growth in prices of food & non-alcoholic beverages, clothing & footwear and furnishings, household equipment & routine maintenance. On a monthly basis, consumer prices increased by 0.1 percent. Inflation Rate in South Korea averaged 7.49 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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Calendar GMT Actual Previous Consensus Forecast (i)
2017-04-03 11:00 PM Mar 2.2% 1.9% 2% 2%
2017-05-01 11:00 PM Apr 1.9% 2.2% 2% 2.1%
2017-05-31 11:00 PM May 2% 1.9% 2% 2%
2017-07-03 11:00 PM Jun 2% 2.2%
2017-07-31 11:00 PM Jul 2.3%
2017-08-31 11:00 PM Aug 2.1%




South Korea Annual Inflation Remains At Target In May


South Korea’s inflation rate advanced to 2 percent in May of 2017 from 1.9 percent in the previous month, consistent with market expectations. It was the second straight month that the inflation rate remained at the central bank's target of 2.0 percent. The result was mainly explained by mild growth in prices of food & non-alcoholic beverages, clothing & footwear and furnishings, household equipment & routine maintenance. On a monthly basis, consumer prices increased by 0.1 percent.

By sector, prices increased at a faster pace for food & non-alcoholic beverages (3.4 percent from 2.6 percent in April), clothing & footwear (1 percent from 0.2 percent), furnishings & household equipment (1.8 percent from 0.9 percent), restaurants & hotels (2.4 percent from 2.2 percent). Also, communication prices decreased at the same rate of 0.3 percent in April.

In contrast, prices increased at a slower pace for transport (4.5 percent from 5.4 percent in April).

Meanwhile, price inflation was steady for: miscellaneous goods & services (2.5 percent) and health (0.7 percent).

On a monthly basis, consumer prices advanced 0.1 percent after retreating 0.1 percent in April. According to Statistics Korea, surging prices of livestock such as pork and poultry were primarily responsible for the increase this month.

Core inflation, which excludes volatile items such as oil and food, increased to 1.5 percent from 1.3 percent in April. 

Charles | charles@tradingeconomics.com
6/1/2017 10:14:40 AM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 2.00 1.90 32.50 0.20 percent [+]
Inflation Rate Mom 0.10 -0.10 5.29 -2.52 percent [+]
Consumer Price Index CPI 102.80 102.66 102.80 2.63 Index Points [+]
Core Consumer Prices 103.12 102.84 103.12 9.61 Index Points [+]
Core Inflation Rate 1.50 1.30 30.50 -0.30 percent [+]
GDP Deflator 111.09 107.37 111.09 0.79 Index Points [+]
Producer Prices 102.26 102.44 108.97 5.08 Index Points [+]
Producer Prices Change 3.50 3.80 47.40 -4.70 percent [+]
Export Prices 84.71 85.58 168.80 14.92 Index Points [+]
Import Prices 80.63 81.74 116.89 4.81 Index Points [+]
Food Inflation 3.40 2.60 6434.02 -4.50 percent [+]
Cpi Transportation 101.22 101.30 112.54 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 June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 1.90 32.50 0.20 1966 - 2017 percent Monthly
2010=100, NSA



inflation rate by Country

Last
Australia 2.10 Mar/17
Brazil 3.60 May/17
Canada 1.30 May/17
China 1.50 May/17
Euro Area 1.40 May/17
France 0.80 May/17
Germany 1.50 May/17
India 2.18 May/17
Indonesia 4.33 May/17
Italy 1.40 May/17
Japan 0.40 Apr/17
Mexico 6.16 May/17
Netherlands 1.10 May/17
Russia 4.10 May/17
South Korea 2.00 May/17
Spain 1.90 May/17
Switzerland 0.50 May/17
Turkey 11.72 May/17
United Kingdom 2.90 May/17
United States 1.90 May/17