Inflation in Korea

Korea Inflation (eop) | Economic News & Forecasts

Korea - Inflation (end of period)

Inflation hits record low in August

Consumer prices increased 0.2% over the prior month in August, contrasting July’s 0.3% fall. Higher prices for food and non-alcoholic beverages, and recreation and culture were chiefly behind August’s uptick.

Year-on-year consumer prices were flat in August, weaker than July’s 0.6% rise, moving further below the Bank of Korea’s 2.0% target and marking an all-time low. Moreover, core inflation, which excludes fresh food and energy prices, edged down to 0.8% from 0.9% in July, while annual average inflation inched down to 1.0% from July’s 1.1%. Weak price pressures can be attributed in part to muted economic activity, and could provide ammunition to the Central Bank to carry out further easing.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, the panel expects inflation to average 1.5%.

Korea - Inflation (eop) Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %, eop)1.1  0.8  1.1  1.3  1.4  

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Korea Inflation (eop) Chart


Korea Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Korea National Statistics Office and FocusEconomics calculations.

Korea Facts

ValueChangeDate
Bond Yield1.341.55 %Sep 04
Exchange Rate1,2080.21 %Sep 04
Stock Market1,989-0.40 %Sep 04

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