Inflation Rate in South Korea decreased to 1.90 percent in May from 2.10 percent in April of 2025. This dataset provides the latest reported value for - South Korea Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This statistic shows the average inflation rate in South Korea from 1987 to 2024, with projections up until 2030. In 2024, the average inflation rate in South Korea amounted to about 2.32 percent compared to the previous year. For further info, see the South Korean GDP. South Korea's low inflation High rates of inflation are undesireable, just like low rates, and South Korea is currently struggling with the latter. South Korea is actually an affluent country and currently ranks 11th on the list of the 20 countries with the largest GDP, but its inflation rate is subject to concern, as it is currently at levels below 2 percent. However, there is still hope that inflation will return to stable rates between 3 and 4.5 percent in the next few years, and there are also signs that consumer confidence is rising after two years of weak economic growth and sluggish domestic consumption and investment. The unemployment rate remains low with levels staying in the range of 3 percent - close to full employment – yet there are still obstacles including an aging population and a heavy reliance on exports. At present, South Korea is attempting to balance its reliance on exports by expanding the service industry, especially as the export market slows.

South Korea inflation rate for 2024 was 2.32%, a 1.28% decline from 2023.

<ul style='margin-top:20px;'>

<li>South Korea inflation rate for 2023 was <strong>3.60%</strong>, a <strong>1.49% decline</strong> from 2022.</li>
<li>South Korea inflation rate for 2022 was <strong>5.09%</strong>, a <strong>2.59% increase</strong> from 2021.</li>
<li>South Korea inflation rate for 2021 was <strong>2.50%</strong>, a <strong>1.96% increase</strong> from 2020.</li>
</ul>Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

In April 2025, consumer prices in South Korea had increased by about 2.1 percent compared to the same month of the previous year. Consumer price inflation hit a decade-high in July 2022.

Core consumer prices in South Korea increased 2.30 percent in May of 2025 over the same month in the previous year. This dataset provides the latest reported value for - South Korea Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the inflation rate in South Korea was about 2.3 percent. Other goods and services experienced the fastest price increase at about 4.1 percent, while food and non-alcoholic beverages followed with a price increase of around 3.9 percent.

The Consumer Price Index in South Korea decreased 0.10 percent in May of 2025 over the previous month. This dataset provides the latest reported value for - South Korea Inflation Rate MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Inflation, consumer prices for the Republic of Korea (FPCPITOTLZGKOR) from 1960 to 2024 about Korea, consumer, CPI, inflation, price index, indexes, and price.

Le aspettative di inflazione in Corea del Sud sono diminuite al 2,40 percento a giugno rispetto al 2,60 percento di maggio 2025. Questa pagina fornisce - Aspettative di inflazione dei consumatori in Corea del Sud - valori effettivi, dati storici, previsioni, grafico, statistiche, calendario economico e notizie.

In 2024, Seoul saw a consumer price inflation rate of approximately 2.4 percent. The highest inflation rate in the last 20 years was reported in 2022, at 4.5 percent.

According to a survey conducted in South Korea in January 2025, the expected inflation rate of consumer prices for the coming year was 2.9 percent. Inflation expectations have shown a declining trend over the past several months.

South Korea: Inflation forecast: The latest value from 2030 is 2 percent, unchanged from 2 percent in 2029. In comparison, the world average is 3.65 percent, based on data from 182 countries. Historically, the average for South Korea from 1980 to 2030 is 4.07 percent. The minimum value, 0.61 percent, was reached in 2020 while the maximum of 32.2 percent was recorded in 1980.

Inflation, GDP deflator: linked series (annual %) in South Korea was reported at 2.0641 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Inflation, GDP deflator: linked series (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.

In 2024, consumer prices in South Korea increased by 2.3 percent compared to the previous year. Agricultural and marine products experienced the highest price increase at about 5.9 percent.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in South Korea was 2.08 percent. That number was released in . It shows an increase from the inflation rate in the previous month when it stood at 2.05 percent. Compared to a year ago, we see a decrease from...

Korea Consumer Survey Index: Expected Inflation data was reported at 2.400 Point in Nov 2018. This records a decrease from the previous number of 2.500 Point for Oct 2018. Korea Consumer Survey Index: Expected Inflation data is updated monthly, averaging 3.100 Point from Feb 2002 (Median) to Nov 2018, with 202 observations. The data reached an all-time high of 4.600 Point in Oct 2008 and a record low of 2.400 Point in Nov 2018. Korea Consumer Survey Index: Expected Inflation data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s South Korea – Table KR.H031: Consumer Survey Index: The Bank of Korea: Expected Inflation.

Cost of food in South Korea increased 2.40 percent in May of 2025 over the same month in the previous year. This dataset provides the latest reported value for - South Korea Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Inflation Target: Average data was reported at 2.000 % in 2018. This stayed constant from the previous number of 2.000 % for 2017. Inflation Target: Average data is updated yearly, averaging 3.000 % from Dec 1998 (Median) to 2018, with 21 observations. The data reached an all-time high of 9.000 % in 1998 and a record low of 2.000 % in 2018. Inflation Target: Average data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s South Korea – Table KR.I001: Consumer Price Index: Inflation Target.

In December 2024, food prices in South Korea increased by 2.5 percent compared to the same month the previous year. Prices rose by almost seven percent in February of that year and declined after that.

Inflation, monthly percent change in the CPI in South Korea, May, 2025 The most recent value is -0.09 percent as of May 2025, a decline compared to the previous value of 0.08 percent. Historically, the average for South Korea from February 1965 to May 2025 is 0.54 percent. The minimum of -2.52 percent was recorded in November 1966, while the maximum of 5.27 percent was reached in February 1974. | TheGlobalEconomy.com