Inflation Rate in South Korea increased to 2.20 percent in June from 1.90 percent in May 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.

Core consumer prices in South Korea increased 2.40 percent in June 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 May 2025, consumer prices in South Korea had increased by about *** percent compared to the same month of the previous year. Consumer price inflation hit a decade-high in July 2022.

The Consumer Price Index in South Korea decreased 0 percent in June 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.

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.

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.

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

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

Inflation Expectations in South Korea decreased to 2.40 percent in June from 2.60 percent in May of 2025. This dataset provides - South Korea Consumer Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in South Korea was 1.9 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 2.08 percent. Compared to a year ago, we see a decrease from the...

South Korea NAIRU: Equilibrium Unemployment Rate data was reported at 3.542 % in 2022. This records an increase from the previous number of 3.535 % for 2021. South Korea NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 3.437 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 4.236 % in 1998 and a record low of 2.793 % in 1991. South Korea NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

North Korea inflation rate for was 0.00%, a 0% increase from .

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<li>North Korea inflation rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea inflation rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea inflation rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</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.

The inflation rate in North Korea was recorded at 55 percent in July of 2013. This dataset provides - North Korea Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

Key information about South Korea Core CPI Change

• South Korea Core CPI Change was reported at 1.920 % in Feb 2025.
• This records a decrease from the previous number of 2.023 % for Jan 2025.
• South Korea Core CPI Change data is updated monthly, averaging 3.213 % from Jan 1976 to Feb 2025, with 590 observations.
• The data reached an all-time high of 30.465 % in Dec 1980 and a record low of -0.348 % in May 1999.
• South Korea Core CPI Change data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Core CPI: Y-o-Y Growth: Monthly.

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.

South Korea NAIRU: Unemployment Gap data was reported at 0.090 % in 2022. This records an increase from the previous number of -0.493 % for 2021. South Korea NAIRU: Unemployment Gap data is updated yearly, averaging -0.049 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 1.118 % in 1996 and a record low of -2.838 % in 1998. South Korea NAIRU: Unemployment Gap data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. GAPUNR - Unemployment gap Difference of nairu and unemployment rate OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf

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.