Inflation in Korea
Korea - Inflation
Inflation plunges to lowest level since June in September
Consumer prices increased 0.50% in September over the previous month, below August's 0.63% increase. Looking at the details of the release, prices for transportation dropped after growing in the previous month, while prices for food and non/alcoholic beverages grew at a softer, albeit still marked pace. In addition, prices for recreation and culture also fell. However, prices for housing and utilities rose at a much steeper pace in September.
Inflation came in at 2.5% in September, down from August’s 2.6%. September's result marked the weakest inflation rate since June. Annual average inflation edged up to 1.6% in September (August: 1.5%). Lastly, core inflation ticked up to 1.9% in September, from August’s 1.8%.
FocusEconomics panelists project inflation averaging 1.9% in 2021, which is unchanged from last month’s forecast, and 1.6% in 2022, which is up 0.1 percentage points from the previous month’s forecast.
Korea - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.7||1.0||1.9||1.5||0.4|
5 years of economic forecasts for more than 30 economic indicators.
Korea Inflation Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
October 27, 2021
Consumer confidence rose to 103.8 in September from August's 102.5.
October 12, 2021
At its meeting on 12 October, the Bank of Korea (BoK) kept the base rate at 0.75%, following a 25 basis-point hike in late August.
October 6, 2021
Consumer prices increased 0.50% in September over the previous month, below August's 0.63% increase.
October 1, 2021
Merchandise exports jumped 16.7% on an annual basis in September, following August’s 34.8% upturn.
October 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 52.4 in September from August's 51.2.