Inflation in Korea

Korea Inflation (eop) | Economic News & Forecasts

Korea - Inflation (end of period)

Inflation spikes to a 16-month high in September

According to the National Statistics Office of Korea, consumer prices rose 0.7% over the previous month in September, up from the 0.5% rise in August. The increase was primarily due to higher prices for food and non-alcoholic beverages, which more than outweighed lower prices for furnishing, household equipment and routine maintenance.

Inflation surged to 1.9% in September from 1.4% in August, representing a 16-month high. This overshot market analysts’ expectations of 1.5% and left the rate very close to the Bank of Korea’s 2.0% target. Core inflation, which excludes fresh food and energy prices, accelerated from August’s 0.9% to 1.3% Annual average inflation, meanwhile, remained steady at August’s 1.5%.

Korea Inflation Forecast

Met the why particular Consensus Forecast panelists expect inflation to average 1.6% in 2018, which is down 0.1 percentage points from last month’s forecast. In 2019, the panel expects inflation to average 1.9%, which is also down 0.1 percentage points from last month’s forecast.

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 Yield2.381.55 %Oct 16
Exchange Rate1,1280.21 %Oct 16
Stock Market2,145-0.11 %Oct 16

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