South Korea Inflation Rate  1966-2018 | Data | Chart | Calendar | Forecast

South Korea's consumer price inflation stood at 1.5 percent year-on-year in July of 2018, unchanged from the previous month and below market expectations of 1.7 percent. Core inflation edged down to 1.0 percent from 1.2 percent in the previous month, with fresh food only rising 0.1 percent following a 2.0 percent advance in the previous month. In addition, prices of utilities fell 1.8 percent after plunging 3.3 percent in June. On a monthly basis, prices rose 0.2 percent after a 0.2 percent decline in the previous month. Inflation Rate in South Korea averaged 7.36 percent from 1966 until 2018, 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 July Inflation Rate Steady at 1.5% for 3rd Month


South Korea's consumer price inflation stood at 1.5 percent year-on-year in July of 2018, the same as in the previous two months and below market expectations of 1.7 percent. Food inflation slowed to a four-month low while cost rose at a faster pace for housing & utilities and transport.

In July, prices of food & non-alcoholic beverages increased by 1.5 percent, compared to a 1.8 percent in a month earlier. It was the lowest food inflation since March. Also, cost rose less for miscellaneous goods & services (0.6 percent from 1 percent in June), while increased at a faster pace for: housing, water, electricity, gas & other fuels (0.8 percent from 0.6 percent); clothing & footwear (1.3 percent from 0.7 percent); furnishings, household equipment & routine maintenance (3.5 percent from 1.8 percent); and transport (4.7 percent from 4.1 percent).

Meantime, inflation was steady for alcoholic beverages & tobacco (0.2 percent); education (1.4 percent); and restaurants & hotels (2.7 percent); while cost was flat for recreation & culture (from  1.2 percent). On the other hand, cost fell for health (-1 percent from 0.1 percent) and communications (-1.5 percent from -0.6 percent).

Core CPI, which excludes oil and agricultural products, increased by 1 percent, after a 1.2 percent gain in June. 

For 2018, the Bank of Korea sees inflation at 1.7 percent. 

On a monthly basis, consumer prices went up 0.2 percent, following a 0.2 percent drop in June. 


Statistics Korea l Rida | rida@tradingeconomics.com
8/1/2018 10:22:43 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-31 11:00 PM Inflation Rate YoY 1.5% 1.6% 1.6% 1.7%
2018-07-02 11:00 PM Inflation Rate YoY 1.5% 1.5% 1.7% 1.6%
2018-07-31 11:00 PM Inflation Rate YoY 1.5% 1.5% 1.7% 1.6%
2018-09-03 11:00 PM Inflation Rate YoY 1.5% 1.6%
2018-10-04 11:00 PM Inflation Rate YoY 1.7%
2018-10-31 11:00 PM Inflation Rate YoY 1.7%


South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.50 32.50 0.20 percent [+]
Inflation Rate Mom 0.20 -0.20 5.29 -2.52 percent [+]
Consumer Price Index CPI 104.37 104.20 104.38 2.63 Index Points [+]
Core Consumer Prices 104.47 104.38 104.47 9.61 Index Points [+]
Core Inflation Rate 1.20 1.30 30.50 -0.40 percent [+]
GDP Deflator 111.75 109.49 113.81 0.79 Index Points [+]
Producer Prices 104.41 104.40 108.97 5.08 Index Points [+]
Producer Prices Change 2.60 2.20 47.40 -4.70 percent [+]
Export Prices 87.56 85.56 168.80 14.92 Index Points [+]
Import Prices 89.81 88.27 116.89 4.81 Index Points [+]
Food Inflation 1.50 1.80 6434.02 -4.50 percent [+]
Cpi Housing Utilities 101.95 101.73 101.95 31.61 Index Points [+]
CPI Transportation 104.54 104.56 112.54 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 August of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 32.50 0.20 1966 - 2018 percent Monthly
2015=100, NSA




inflation rate by Country
Country Last
Australia 2.10 Jun/18
Brazil 4.48 Jul/18
Canada 3.00 Jul/18
China 2.10 Jul/18
Euro Area 2.10 Jul/18
France 2.30 Jul/18
Germany 2.00 Jul/18
India 4.17 Jul/18
Indonesia 3.18 Jul/18
Italy 1.50 Jul/18
Japan 0.70 Jun/18
Mexico 4.81 Jul/18
Netherlands 2.10 Jul/18
Russia 2.50 Jul/18
South Korea 1.50 Jul/18
Spain 2.20 Jul/18
Switzerland 1.20 Jul/18
Turkey 15.85 Jul/18
United Kingdom 2.50 Jul/18
United States 2.90 Jul/18


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