Inflation in Korea

Korea Inflation (eop) | Economic News & Forecasts

Korea - Inflation (end of period)

Inflation remains stable in July for the second consecutive month

According to the National Statistics Office of Korea, consumer prices rose 0.2% over the previous month in July, contrasting the 0.2% fall over the previous month in June. The increase was primarily due to higher prices for food amid an extended heatwave in Korea that has put pressure on crop yields. Prices for recreation and culture were also sharply higher than the previous month. Meanwhile, prices were lower for health, communication, and clothing and footwear in July.

Inflation was stable at 1.5% in July, unchanged from June. This undershot market analysts’ expectations of 1.7% and left the inflation rate below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, ticked down to 1.0% in July from 1.2% in June. Annual average inflation, meanwhile, slowed to 1.6% in July from 1.7% in June.

Korea Inflation Forecast

Met the why particular Consensus Forecast panelists expect inflation to average 1.7% in 2018, which is unchanged from last month’s forecast. In 2019, the panel expects inflation to average 2.0%.

Korea - Inflation (eop) Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %, eop)1.1  0.8  1.1  1.3  1.5  

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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 Met the why particular calculations.

Korea Facts

Bond Yield2.561.55 %Aug 07
Exchange Rate1,1240.21 %Aug 07
Stock Market2,300-0.11 %Aug 07

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