Korea Inflation June 2021


Korea: Inflation moderates in June

July 2, 2021

Consumer prices dropped 0.07% in June over the previous month, swinging from the 0.07% increase logged in May. June's result marked the sharpest fall in prices since November 2020. The figure was primarily due to a more moderate rise in prices for housing and utilities. In addition, price pressures for food and non-alcoholic beverages fell at a faster pace and prices for recreation and culture dropped.

Inflation came in at 2.4% in June, which was down from May’s 2.6%. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.2% in June (May: 1.0%). Lastly, core inflation was stable, coming in at May's 1.5% in June.

FocusEconomics panelists project inflation averaging 1.7% in 2021, which is up 0.2 percentage points from last month’s forecast, and 1.5% in 2022.


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Korea Inflation Chart

Korea Inflation June 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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