South Korea's annual inflation rate was at 2.0 percent in November of 2018, unchanged from the previous month and below market expectations of 2.2 percent. It remained the highest inflation rate since September last year, amid a faster rise in cost of housing & utilities while inflation slowed for food and transport. On a monthly basis, prices dropped 0.7 percent after a 0.2 percent decline in October. Inflation Rate in South Korea averaged 7.32 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.

Inflation Rate in South Korea is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in South Korea to stand at 2.00 in 12 months time. In the long-term, the South Korea Inflation Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

South Korea Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-03 11:00 PM Inflation Rate YoY 1.4% 1.5% 1.3% 1.4%
2018-10-04 11:00 PM Inflation Rate YoY 1.9% 1.4% 1.55% 1.5%
2018-10-31 11:00 PM Inflation Rate YoY 2% 1.9% 1.7% 1.6%
2018-12-03 11:00 PM Inflation Rate YoY 2.0% 2% 2.2% 2.1%
2018-12-30 11:00 PM Inflation Rate YoY 2.0% 1.7%
2019-01-31 11:00 PM Inflation Rate YoY
2019-03-05 11:00 PM Inflation Rate YoY



South Korea Inflation Rate Steady at 2% in November



South Korea's annual inflation came in at 2 percent in November of 2018, the same as in the previous month while market had expected of a 2.2 percent rise. It remained the highest inflation rate since September 2017, amid a faster rise in cost of housing & utilities while inflation slowed for food and transport.

Year-on-year, prices advanced faster for housing and utilities (1.6 percent vs 0.8 percent in October); restaurant and hotels (2.5 percent vs 2.4 percent); clothing and footwear (0.9 percent vs 0.6 percent); recreation and culture (1.5 percent vs 0.5 percent); miscellaneous goods and services (0.9 percent vs 0.5 percent); furnishing, household equipment & routine maintenance (2.4 percent vs 2.3 percent); and alcoholic beverages and tobacco (0.3 percent vs 0.1 percent). Also, cost of health fell at a softer pace (-0.2 percent vs -0.4 percent). Meantime, inflation was steady for education (at 1.5 percent, the same as in October) while eased for food and non-alcoholic beverages (5.4 percent vs 5.6 percent); and transport (2.6 percent from 4.6 percent). Additionally, cost of communication continued to decline (-1.9 percent vs - 1.8 percent).

Core CPI, which excludes oil and agricultural products, increased by 1.3 percent, after a 1.1 percent rise in October and marking the highest figure in six months

On a monthly basis, consumer prices declined 0.7 percent, following a 0.2 percent fall in October and compared with market consensus of a 0.4 percent decrease.


Statistics Korea l Rida | rida@tradingeconomics.com
12/4/2018 12:04:24 PM



South Korea Prices Last Previous Highest Lowest Unit
Inflation Rate 2.00 2.00 32.50 0.20 percent [+]
Inflation Rate Mom -0.70 -0.20 5.29 -2.52 percent [+]
Consumer Price Index CPI 104.73 105.42 105.60 2.63 Index Points [+]
Core Consumer Prices 104.53 104.68 104.68 9.61 Index Points [+]
Core Inflation Rate 1.30 1.10 30.50 -0.40 percent [+]
GDP Deflator 113.94 111.35 113.94 0.79 Index Points [+]
Producer Prices 105.41 105.81 108.97 5.08 Index Points [+]
Producer Prices Change 2.20 2.70 47.40 -4.70 percent [+]
Export Prices 86.10 88.17 168.80 14.92 Index Points [+]
Import Prices 87.96 92.20 116.89 4.81 Index Points [+]
Food Inflation 5.40 5.60 6434.02 -4.50 percent [+]
Cpi Housing Utilities 102.30 102.40 102.40 31.61 Index Points [+]
CPI Transportation 104.64 106.54 112.54 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.00 32.50 0.20 1966 - 2018 percent Monthly
2015=100, NSA




Country Last Previous
Argentina 48.00 Nov/18
Australia 1.90 Sep/18
Brazil 4.05 Nov/18
Canada 2.40 Oct/18
China 2.20 Nov/18
Euro Area 2.00 Nov/18
France 1.90 Nov/18
Germany 2.30 Nov/18
India 2.33 Nov/18
Indonesia 3.23 Nov/18
Italy 1.60 Nov/18
Japan 1.40 Oct/18
Mexico 4.72 Nov/18
Netherlands 2.00 Nov/18
Russia 3.80 Nov/18
Saudi Arabia 2.40 Oct/18
Singapore 0.70 Oct/18
South Africa 5.20 Nov/18
South Korea 2.00 Nov/18
Spain 1.70 Nov/18
Switzerland 0.90 Nov/18
Turkey 21.62 Nov/18
United Kingdom 2.40 Oct/18
United States 2.20 Nov/18


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