Korea Inflation February 2021


Korea: Inflation increases in February

March 4, 2021

Consumer prices rose 0.50% over the previous month in February, moderating from January's 0.76% increase. Looking at the details of the release, price growth for housing and utilities accelerated in February. In addition, food and non-alcoholic beverages prices accelerated. However, prices for recreation and culture dropped, while prices for transportation rose at a more moderate pace.

Inflation came in at 1.1% in February, up from January’s 0.6%. Meanwhile, the trend was unchanged, with annual average inflation coming in at January's 0.5% in February. Lastly, core inflation fell to 0.8% from January’s 0.9%.

FocusEconomics panelists project inflation averaging 1.1% in 2021, which is unchanged from last month’s forecast, and 1.4% in 2022.


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Korea Inflation Chart

Korea Inflation February 2021

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: National Statistics Office of Korea (KOSTAT).

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