South Korea Inflation Rate

Last Release

Jan 31, 2025

Actual

2.2

Units In

1.9

Frequency

Monthly

Next Release

Mar 05, 2025

Time to Release

27 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
32.5 Oct 1980	-0.4 Sep 2019	6.81 %	1966-2025	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

South Korea's inflation rate rose to 2.2% in January 2025, up from 1.9% in December, marking the highest level in six months. This increase is attributed to a weaker local currency, which drove up import prices. It also marked the first time in five months that inflation surpassed 2%. The rise in prices supported the Bank of Korea’s decision to hold interest rates steady at 3% in its January meeting, despite expectations for a 25 basis point cut. The central bank balanced concerns about economic growth risks with the pressure of a depreciating won, exacerbated by political instability. On a monthly basis, consumer prices climbed 0.7% in January, up from 0.4% in December, reaching the highest monthly increase since August 2023.