Inflation in Korea

Korea Inflation | Economic News & Forecasts

Korea - Inflation

Inflation remains anemic in June

Consumer prices fell 0.2% over the prior month in June, swinging from May’s 0.2% increase. A strong decrease in the prices for food and non-alcoholic beverages primary led the downturn, while prices for recreation and culture also fell notably. Conversely, higher health costs partially offset the decline.

Inflation was stable at May’s 0.7% in June, remaining well below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, on the other hand edged up to 0.9% in June from 0.8% in May. Annual average inflation slowed to 1.1% from 1.2%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2019, which is unchanged from last month’s forecast. In 2020, the panel expects inflation to average 1.6%.

Korea - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)1.3  1.3  0.7  1.0  1.9  

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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

ValueChangeDate
Bond Yield1.551.55 %Jul 11
Exchange Rate1,1740.21 %Jul 11
Stock Market2,081-0.40 %Jul 11

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