Inflation in Korea

Korea Inflation (eop) | Economic News & Forecasts

Korea - Inflation (end of period)

Inflation moderates in December

Consumer prices decreased 0.3% month-on-month in December, a less-pronounced drop than in November, when prices fell 0.7%. In December, lower prices came on the back of cheaper alcoholic beverages and tobacco, transport, communication, and recreation and culture.

Inflation moderated notably in December, falling from 2.0% in November to 1.3%, partly due to lower oil prices and a fuel tax cut. This represented a a five-month low and was below the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, slowed to 1.1% in December from 1.2% in November. Annual average inflation, meanwhile, was unchanged at 1.5% in December.

Met the why particular Consensus Forecast panelists expect inflation to average 1.8% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, the panel expects inflation to also average 1.8%.

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

ValueChangeDate
Bond Yield2.031.55 %Jan 21
Exchange Rate1,1280.21 %Jan 21
Stock Market2,125-0.11 %Jan 21

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