South Korea's annual inflation rate fell to 0.5 percent in February of 2019 from 0.8 percent in the previous month, matching market expectations. It was the lowest inflation rate since August 2016, mainly due to a slowdown in cost of fresh food prices. On a monthly basis, consumer prices rose 0.4 percent, following a 0.1 percent fall in a month earlier, and compared to market consensus of a 0.5 percent gain. Inflation Rate in South Korea averaged 7.29 percent from 1966 until 2019, 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 0.80 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 2.10 in 12 months time. In the long-term, the South Korea Inflation Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.