Inflation in Korea

Korea Inflation | Economic News & Forecasts

Korea - Inflation

Inflation decreases in December

Consumer prices increased 0.16% from the previous month in December, coming in below the 0.50% increase logged in November. December's result marked the weakest reading since June. Looking at the details of the release, the change in the prices for housing and utilities was largely steady in December, although prices for transportation dropped after growing in the previous month. Meanwhile, food and non-alcoholic beverages prices were largely steady.

Inflation came in at 3.7% in December, which was down from November’s 3.8%. Annual average inflation rose to 2.5% in December (November: 2.2%). Lastly, core inflation rose to 2.7% in December, from the previous month's 2.4%.

FocusEconomics panelists project inflation averaging 2.0% in 2022, which is up 0.2 percentage points from last month’s forecast, and 1.6% 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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