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. source: Statistics Korea

Inflation Rate in South Korea decreased to 2 percent in January from 2.30 percent in December of 2025. Inflation Rate in South Korea averaged 6.73 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 February of 2026.

Inflation Rate in South Korea decreased to 2 percent in January from 2.30 percent in December of 2025. Inflation Rate in South Korea is expected to be 2.10 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 2.10 percent in 2027 and 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-30 11:00 PM
Inflation Rate YoY
Dec 2.3% 2.4% 2.3% 2.4%
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%


Related Last Previous Unit Reference
CPI 118.03 117.57 points Jan 2026
Core Consumer Prices 116.57 116.02 points Jan 2026
Core Inflation Rate 2.30 2.30 percent Jan 2026
CPI Housing Utilities 117.40 117.12 points Jan 2026
CPI Transportation 116.94 117.99 points Jan 2026
Food Inflation 2.90 3.60 percent Jan 2026
Inflation Rate YoY 2.00 2.30 percent Jan 2026
Inflation Rate MoM 0.40 0.30 percent Jan 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 2.30 32.50 -0.40 1966 - 2026 percent Monthly
NSA

News Stream
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
South Korea Inflation Rate Stays at 15-Month High
South Korea’s annual inflation rate held at 2.4% in November 2025, unchanged from the previous month and remaining at its highest level since July 2024. The latest figure also stayed above the central bank’s 2% target for a third straight month. Price continued to rise for all components: food & non-alcoholic beverages (4.7% vs 3.5% in October), tobacco (0.1% vs 0.4%), clothing (2.3% vs 2.1%), furnishings, household equipment & routine maintenance (2.8% vs 2.2%), housing (1.2% vs 1.1%), health (1.1% vs 0.9%), transport (3.2% vs 3.4%), communication (0.4% vs 0.4%), culture (1.4% vs 2.1%), education (1.7% vs 1.8%), restaurants & hotels (2.9% vs 3.2%), and miscellaneous goods & services (4.2% vs 4.3%). On a monthly basis, consumer prices declined 0.2%, swinging from a 0.3% rise in October and marking the first drop since August.
2025-12-01