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South Korea Inflation Rate
Last Release
Dec 31, 2022
Actual
5
Units In
%
Previous
5
Frequency
Monthly
Next Release
Feb 01, 2023
Time to Release
0 Days 15 Hours
Highest | Lowest | Average | Date Range | Source |
32.5 Oct 1980 | -0.4 Sep 2019 | 6.95 % | 1966-2022 | Statistics Korea |
In South Korea, the most important categories in the consumer price index are Housing, water, electricity, gas and other fuels (17 percent of total weight) and Food and non-alcoholic beverages (13.6 percent of total weight). Others include Restaurants and hotels (12 percent); Education (11.4 percent); Transportation (10.9 percent); Health (7.3 percent); and Clothing and footwear (6.2 percent). The components with the least weight are Communication at 5.8 percent; Miscellaneous goods and services at 5.4 percent; Recreation and culture at 5.3 percent; Furnishings, household equipment and routine maintenance at 3.8 percent; and Alcoholic beverages and tobacco at 1.24 percent.
Latest Updates
Consumer inflation in South Korea was at 5 percent year-on-year in December of 2022, in line with expectations and remaining unchanged from the seven-month low from the prior month as lower energy prices and a slower economy drove price growth to steadily decline from the 6.3 percent peak in July. The BOK opted for a smaller 25 basis point rate hike to 3.25% in November after delivering a half-percentage point increase in October, as policymakers try to balance the fight against inflation with economic risks. The central bank has now lifted interest rates by a total of 275 basis points since August last year, and Governor Rhee Chang-Yong said they would continue to hike rates as needed “for some time” which he later clarified as a period of three months. On a monthly basis, the South Korean CPI rose by 0.2 percent, rebounding from the 0.1 percent decrease in November. Considering all of 2022, inflation averaged 5.1 percent, the highest since 1998.
South Korea Inflation Rate History
Last 12 readings
South Korea Prices Indicators
All South Korea indicatorsIndicator | Last | Previous | Min | Max | Unit | Frequency | Range |
---|---|---|---|---|---|---|---|
CPI Transportation | 113.35 Dec 2022 | 115.44 Nov 2022 | 27.63 Jan 1985 | 123.43 Jul 2022 | Points | Monthly | 1985-2022 |
Consumer Price Index CPI | 109.28 Dec 2022 | 109.1 Nov 2022 | 2.49 Jan 1965 | 109.28 Dec 2022 | Points | Monthly | 1965-2022 |
Core Consumer Prices | 108.16 Dec 2022 | 107.78 Nov 2022 | 9.07 Jan 1975 | 108.16 Dec 2022 | Points | Monthly | 1975-2022 |
Core Inflation Rate | 4.76 Dec 2022 | 4.83 Nov 2022 | -0.3 Apr 1999 | 30.5 Dec 1980 | % | Monthly | 1976-2022 |
Cpi Housing Utilities | 110.77 Dec 2022 | 110.65 Nov 2022 | 30.6 Jan 1985 | 110.77 Dec 2022 | Points | Monthly | 1985-2022 |
Export Prices | 118.03 Dec 2022 | 125.82 Nov 2022 | 17.87 Jan 1971 | 202.14 Jan 1998 | Points | Monthly | 1971-2022 |
Export Prices YoY | 3.1 Dec 2022 | 8.3 Nov 2022 | -10.5 Jun 2014 | 26.1 Oct 2021 | % | Monthly | 2013-2022 |
Food Inflation | 5.23 Dec 2022 | 4.81 Nov 2022 | -4.5 Feb 1987 | 6,434.02 Jan 1985 | % | Monthly | 1970-2022 |
GDP Deflator | 110.8 Sep 2022 | 109.86 Jun 2022 | 0.74 Mar 1960 | 110.8 Sep 2022 | Points | Quarterly | 1960-2022 |
Import Prices | 138.63 Dec 2022 | 148.07 Nov 2022 | 5.99 Jan 1971 | 156.3 Oct 2022 | Points | Monthly | 1971-2022 |
Import Prices YoY | 9.1 Dec 2022 | 14 Nov 2022 | -19.4 Jan 2015 | 36.5 May 2022 | % | Monthly | 2013-2022 |
Inflation Expectations | 3.9 Jan 2023 | 3.8 Dec 2022 | 1.6 May 2020 | 4.7 Jul 2022 | % | Monthly | 2002-2023 |
Inflation Rate | 5 Dec 2022 | 5 Nov 2022 | -0.4 Sep 2019 | 32.5 Oct 1980 | % | Monthly | 1966-2022 |
Inflation Rate Mom | 0.2 Dec 2022 | -0.1 Nov 2022 | -2.5 Nov 1966 | 5.3 Feb 1974 | % | Monthly | 1965-2022 |
Producer Price Inflation MoM | -0.3 Dec 2022 | -0.3 Nov 2022 | -2.3 Nov 2008 | 14.5 Feb 1974 | N/A | 1965-2022 | |
Producer Prices | 119.96 Dec 2022 | 120.42 Nov 2022 | 5.03 Jan 1965 | 120.61 Oct 2022 | Points | Monthly | 1965-2022 |
Producer Prices Change | 6 Dec 2022 | 6.2 Nov 2022 | -4.7 Nov 2015 | 47.4 Jul 1974 | % | Monthly | 1966-2022 |
Inflation Rate across Asia
Inflation Rate global viewCountry | Last | Previous | Min | Max | Unit | Frequency | Range |
---|---|---|---|---|---|---|---|
9.1 Nov 2022 | 10.2 Oct 2022 | -18.39 May 2009 | 13.97 Apr 2011 | % | Monthly | 2005-2022 | |
13.9 Dec 2022 | 13.8 Nov 2022 | -1.8 Jun 2009 | 25.4 Jun 2008 | % | Monthly | 2007-2022 | |
8.71 Dec 2022 | 8.85 Nov 2022 | -0.03 Dec 1996 | 16 Sep 2011 | % | Monthly | 1994-2022 | |
4.59 Nov 2022 | 4.89 Oct 2022 | 2.01 Jul 2018 | 13.53 Jun 2012 | % | Monthly | 2001-2022 | |
3.1 Nov 2022 | 3.5 Oct 2022 | -1.6 Dec 2016 | 4.5 Aug 2022 | % | Monthly | 2007-2022 | |
3.2 Nov 2022 | 3.6 Oct 2022 | -5.69 May 2009 | 35.57 May 2008 | % | Monthly | 1995-2022 | |
1.8 Dec 2022 | 1.6 Nov 2022 | -2.2 Apr 1999 | 28.4 Feb 1989 | % | Monthly | 1986-2022 | |
2 Dec 2022 | 1.8 Nov 2022 | -6.1 Aug 1999 | 16 Oct 1981 | % | Monthly | 1981-2022 | |
5.72 Dec 2022 | 5.88 Nov 2022 | 1.54 Jun 2017 | 12.17 Nov 2013 | % | Monthly | 2012-2022 | |
5.51 Dec 2022 | 5.42 Nov 2022 | -1.17 Mar 2000 | 82.4 Sep 1998 | % | Monthly | 1997-2022 | |
4 Dec 2022 | 3.8 Nov 2022 | -2.5 Oct 2009 | 24.9 Feb 1974 | % | Monthly | 1958-2022 | |
20.7 Jan 2023 | 20.3 Dec 2022 | 1.9 Dec 1998 | 2,960.8 Dec 1992 | % | Monthly | 1992-2023 | |
14.7 Dec 2022 | 15 Nov 2022 | -0.7 Feb 2019 | 32.45 Jul 2008 | % | Monthly | 2003-2022 | |
39.27 Dec 2022 | 38.46 Nov 2022 | -2.26 Aug 2009 | 167 Mar 1999 | % | Monthly | 1989-2022 | |
0.77 Dec 2022 | 0.76 Nov 2022 | -3.65 Jul 1999 | 9.49 Mar 2008 | % | Monthly | 1999-2022 | |
3.8 Dec 2022 | 4 Nov 2022 | -2.9 Apr 2020 | 23.9 Mar 1974 | % | Monthly | 1973-2022 | |
2.84 Nov 2022 | 2.94 Oct 2022 | -4.5 Jun 2020 | 17.72 Mar 2012 | % | Monthly | 2005-2022 | |
13.2 Dec 2022 | 14.5 Nov 2022 | -0.2 Oct 2016 | 34.2 Aug 2008 | % | Monthly | 2007-2022 | |
7.28 Sep 2021 | 6.71 Aug 2021 | -1.09 Dec 2011 | 54.02 Dec 2002 | % | Monthly | 1998-2021 | |
7.38 Dec 2022 | 8.08 Nov 2022 | -11.54 May 1967 | 30.42 May 1966 | % | Monthly | 1964-2022 | |
24.5 Dec 2022 | 23.8 Nov 2022 | -10.32 Feb 1959 | 37.81 Dec 1973 | % | Monthly | 1957-2022 | |
8.1 Dec 2022 | 8 Nov 2022 | -2.1 Jan 1959 | 62.8 Sep 1984 | % | Monthly | 1958-2022 | |
6.5 Dec 2022 | 6.7 Nov 2022 | -3.1 Sep 1976 | 34.3 Mar 1974 | % | Monthly | 1962-2022 | |
5 Dec 2022 | 5 Nov 2022 | -0.4 Sep 2019 | 32.5 Oct 1980 | % | Monthly | 1966-2022 | |
54.2 Jan 2023 | 57.2 Dec 2022 | -0.9 Mar 1995 | 69.8 Sep 2022 | % | Monthly | 1986-2023 | |
2.71 Dec 2022 | 2.35 Nov 2022 | -3.09 Oct 1970 | 61.45 Mar 1974 | % | Monthly | 1960-2022 | |
4.5 Nov 2022 | 5.2 Oct 2022 | 0.4 Jan 2009 | 60.6 Dec 2000 | % | Monthly | 1999-2022 | |
5.89 Dec 2022 | 5.55 Nov 2022 | -4.38 Jul 2009 | 24.56 Jun 1980 | % | Monthly | 1977-2022 | |
6.7 Nov 2022 | 7.3 Oct 2022 | -2.5 Aug 2009 | 18 Feb 2007 | % | Monthly | 2004-2022 | |
17.5 Dec 2022 | 14.95 Dec 2021 | 0.1 Dec 2009 | 83.7 Dec 1997 | % | Yearly | 1997-2022 | |
12.3 Dec 2022 | 12.3 Nov 2022 | 2.4 Mar 2008 | 20.1 Jan 2018 | % | Monthly | 2006-2022 | |
4.89 Jan 2023 | 4.55 Dec 2022 | -2.6 Jul 2000 | 28.24 Aug 2008 | % | Monthly | 1996-2023 |