Inflation in Korea

Korea Inflation | Economic News & Forecasts

Korea - Inflation

Inflation comes in at highest level since January 2012 in October

Consumer prices increased 0.13% over the previous month in October, below the 0.50% rise logged in September. October's result marked the softest rise in prices since June. Looking at the details of the release, food and non-alcoholic beverages prices dropped in October compared to the previous month. Moreover, prices for communication also slumped in October. Contrastingly, prices for transportation, recreation and culture and restaurants and hotels increased.

Inflation increased to 3.2% in October, following September’s 2.5%. October's figure represented the highest inflation rate since January 2012. Annual average inflation rose to 1.9% in October (September: 1.6%). Finally, core inflation rose to 2.8% in October, from September’s 1.9%.

FocusEconomics panelists project inflation averaging 1.6% in 2022, which is unchanged from last month’s forecast, and 1.6% again in 2023.

Korea - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.7  1.0  1.9  1.5  0.4  

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Korea Inflation Chart

Korea Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Korea National Statistics Office and FocusEconomics calculations.

Korea Facts

Value Change Date
Bond Yield1.681.55 %Dec 31
Exchange Rate1,1560.21 %Dec 31

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