Korea Inflation December 2020


Korea: Inflation recedes in December

December 31, 2020

Consumer prices rose 0.16% from the previous month in December, swinging from the 0.10% fall logged in November. The rebound was broad-based, with greater price pressures recorded for housing and utilities, transportation, and food and non-alcoholic beverages. In addition, prices for recreation and culture fell at a more modest pace.

Inflation came in at 0.5% in December, following November’s 0.6%. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 0.5% in December (November: 0.6%). Lastly, core inflation fell to 0.9% from November’s 1.0%.

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 December 20 20

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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