The annual inflation rate in South Korea was at 2.5 percent in September of 2021, little changed from August's four-year high of 2.6 percent, remaining above the central bank's annual 2 percent target for the sixth consecutive month. Main upward pressure came from fresh food, oil products, housing rentals, and other services. Core consumer prices increased by 1.5 percent year-on-year, the most since October 2017 and following a 1.3 percent rise. On a monthly basis, consumer prices rose by 0.5 percent, above market estimates of a 0.3 percent rise and after a 0.6 percent gain in August. source: Statistics Korea
Inflation Rate in South Korea averaged 7 percent from 1966 until 2021, 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 October of 2021.
Inflation Rate in South Korea is expected to be 2.40 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 2.00 percent in 2022 and 2.10 percent in 2023, according to our econometric models.