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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 %1966-2022Statistics 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 indicators
Indicator
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
PointsMonthly1985-2022
Consumer Price Index CPI
109.28
Dec 2022
109.1
Nov 2022
2.49
Jan 1965
109.28
Dec 2022
PointsMonthly1965-2022
Core Consumer Prices
108.16
Dec 2022
107.78
Nov 2022
9.07
Jan 1975
108.16
Dec 2022
PointsMonthly1975-2022
Core Inflation Rate
4.76
Dec 2022
4.83
Nov 2022
-0.3
Apr 1999
30.5
Dec 1980
%Monthly1976-2022
Cpi Housing Utilities
110.77
Dec 2022
110.65
Nov 2022
30.6
Jan 1985
110.77
Dec 2022
PointsMonthly1985-2022
Export Prices
118.03
Dec 2022
125.82
Nov 2022
17.87
Jan 1971
202.14
Jan 1998
PointsMonthly1971-2022
Export Prices YoY
3.1
Dec 2022
8.3
Nov 2022
-10.5
Jun 2014
26.1
Oct 2021
%Monthly2013-2022
Food Inflation
5.23
Dec 2022
4.81
Nov 2022
-4.5
Feb 1987
6,434.02
Jan 1985
%Monthly1970-2022
GDP Deflator
110.8
Sep 2022
109.86
Jun 2022
0.74
Mar 1960
110.8
Sep 2022
PointsQuarterly1960-2022
Import Prices
138.63
Dec 2022
148.07
Nov 2022
5.99
Jan 1971
156.3
Oct 2022
PointsMonthly1971-2022
Import Prices YoY
9.1
Dec 2022
14
Nov 2022
-19.4
Jan 2015
36.5
May 2022
%Monthly2013-2022
Inflation Expectations
3.9
Jan 2023
3.8
Dec 2022
1.6
May 2020
4.7
Jul 2022
%Monthly2002-2023
Inflation Rate
5
Dec 2022
5
Nov 2022
-0.4
Sep 2019
32.5
Oct 1980
%Monthly1966-2022
Inflation Rate Mom
0.2
Dec 2022
-0.1
Nov 2022
-2.5
Nov 1966
5.3
Feb 1974
%Monthly1965-2022
Producer Price Inflation MoM
-0.3
Dec 2022
-0.3
Nov 2022
-2.3
Nov 2008
14.5
Feb 1974
N/A1965-2022
Producer Prices
119.96
Dec 2022
120.42
Nov 2022
5.03
Jan 1965
120.61
Oct 2022
PointsMonthly1965-2022
Producer Prices Change
6
Dec 2022
6.2
Nov 2022
-4.7
Nov 2015
47.4
Jul 1974
%Monthly1966-2022

Inflation Rate across Asia

Inflation Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Afghanistan
9.1
Nov 2022
10.2
Oct 2022
-18.39
May 2009
13.97
Apr 2011
% Monthly2005-2022
Azerbaijan
13.9
Dec 2022
13.8
Nov 2022
-1.8
Jun 2009
25.4
Jun 2008
% Monthly2007-2022
Bangladesh
8.71
Dec 2022
8.85
Nov 2022
-0.03
Dec 1996
16
Sep 2011
% Monthly1994-2022
Bhutan
4.59
Nov 2022
4.89
Oct 2022
2.01
Jul 2018
13.53
Jun 2012
% Monthly2001-2022
Brunei
3.1
Nov 2022
3.5
Oct 2022
-1.6
Dec 2016
4.5
Aug 2022
% Monthly2007-2022
Cambodia
3.2
Nov 2022
3.6
Oct 2022
-5.69
May 2009
35.57
May 2008
% Monthly1995-2022
China
1.8
Dec 2022
1.6
Nov 2022
-2.2
Apr 1999
28.4
Feb 1989
% Monthly1986-2022
Hong Kong
2
Dec 2022
1.8
Nov 2022
-6.1
Aug 1999
16
Oct 1981
% Monthly1981-2022
India
5.72
Dec 2022
5.88
Nov 2022
1.54
Jun 2017
12.17
Nov 2013
% Monthly2012-2022
Indonesia
5.51
Dec 2022
5.42
Nov 2022
-1.17
Mar 2000
82.4
Sep 1998
% Monthly1997-2022
Japan
4
Dec 2022
3.8
Nov 2022
-2.5
Oct 2009
24.9
Feb 1974
% Monthly1958-2022
Kazakhstan
20.7
Jan 2023
20.3
Dec 2022
1.9
Dec 1998
2,960.8
Dec 1992
% Monthly1992-2023
Kyrgyzstan
14.7
Dec 2022
15
Nov 2022
-0.7
Feb 2019
32.45
Jul 2008
% Monthly2003-2022
Laos
39.27
Dec 2022
38.46
Nov 2022
-2.26
Aug 2009
167
Mar 1999
% Monthly1989-2022
Macao
0.77
Dec 2022
0.76
Nov 2022
-3.65
Jul 1999
9.49
Mar 2008
% Monthly1999-2022
Malaysia
3.8
Dec 2022
4
Nov 2022
-2.9
Apr 2020
23.9
Mar 1974
% Monthly1973-2022
Maldives
2.84
Nov 2022
2.94
Oct 2022
-4.5
Jun 2020
17.72
Mar 2012
% Monthly2005-2022
Mongolia
13.2
Dec 2022
14.5
Nov 2022
-0.2
Oct 2016
34.2
Aug 2008
% Monthly2007-2022
Myanmar
7.28
Sep 2021
6.71
Aug 2021
-1.09
Dec 2011
54.02
Dec 2002
% Monthly1998-2021
Nepal
7.38
Dec 2022
8.08
Nov 2022
-11.54
May 1967
30.42
May 1966
% Monthly1964-2022
Pakistan
24.5
Dec 2022
23.8
Nov 2022
-10.32
Feb 1959
37.81
Dec 1973
% Monthly1957-2022
Philippines
8.1
Dec 2022
8
Nov 2022
-2.1
Jan 1959
62.8
Sep 1984
% Monthly1958-2022
Singapore
6.5
Dec 2022
6.7
Nov 2022
-3.1
Sep 1976
34.3
Mar 1974
% Monthly1962-2022
South Korea
5
Dec 2022
5
Nov 2022
-0.4
Sep 2019
32.5
Oct 1980
% Monthly1966-2022
Sri Lanka
54.2
Jan 2023
57.2
Dec 2022
-0.9
Mar 1995
69.8
Sep 2022
% Monthly1986-2023
Taiwan
2.71
Dec 2022
2.35
Nov 2022
-3.09
Oct 1970
61.45
Mar 1974
% Monthly1960-2022
Tajikistan
4.5
Nov 2022
5.2
Oct 2022
0.4
Jan 2009
60.6
Dec 2000
% Monthly1999-2022
Thailand
5.89
Dec 2022
5.55
Nov 2022
-4.38
Jul 2009
24.56
Jun 1980
% Monthly1977-2022
Timor-Leste
6.7
Nov 2022
7.3
Oct 2022
-2.5
Aug 2009
18
Feb 2007
% Monthly2004-2022
Turkmenistan
17.5
Dec 2022
14.95
Dec 2021
0.1
Dec 2009
83.7
Dec 1997
% Yearly1997-2022
Uzbekistan
12.3
Dec 2022
12.3
Nov 2022
2.4
Mar 2008
20.1
Jan 2018
% Monthly2006-2022
Vietnam
4.89
Jan 2023
4.55
Dec 2022
-2.6
Jul 2000
28.24
Aug 2008
% Monthly1996-2023

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