South Korea Inflation Rate 1960-2024
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.
- South Korea inflation rate for 2023 was 3.60%, a 1.49% decline from 2022.
- South Korea inflation rate for 2022 was 5.09%, a 2.59% increase from 2021.
- South Korea inflation rate for 2021 was 2.50%, a 1.96% increase from 2020.
- South Korea inflation rate for 2020 was 0.54%, a 0.15% increase from 2019.
| South Korea Inflation Rate - Historical Data |
| Year |
Inflation Rate (%) |
Annual Change |
| 2023 |
3.60% |
-1.49% |
| 2022 |
5.09% |
2.59% |
| 2021 |
2.50% |
1.96% |
| 2020 |
0.54% |
0.15% |
| 2019 |
0.38% |
-1.09% |
| 2018 |
1.48% |
-0.47% |
| 2017 |
1.94% |
0.97% |
| 2016 |
0.97% |
0.27% |
| 2015 |
0.71% |
-0.57% |
| 2014 |
1.27% |
-0.03% |
| 2013 |
1.30% |
-0.89% |
| 2012 |
2.19% |
-1.84% |
| 2011 |
4.03% |
1.09% |
| 2010 |
2.94% |
0.18% |
| 2009 |
2.76% |
-1.92% |
| 2008 |
4.67% |
2.14% |
| 2007 |
2.53% |
0.29% |
| 2006 |
2.24% |
-0.51% |
| 2005 |
2.75% |
-0.84% |
| 2004 |
3.59% |
0.08% |
| 2003 |
3.51% |
0.75% |
| 2002 |
2.76% |
-1.30% |
| 2001 |
4.07% |
1.81% |
| 2000 |
2.26% |
1.45% |
| 1999 |
0.81% |
-6.70% |
| 1998 |
7.51% |
3.07% |
| 1997 |
4.44% |
-0.49% |
| 1996 |
4.92% |
0.44% |
| 1995 |
4.48% |
-1.79% |
| 1994 |
6.27% |
1.46% |
| 1993 |
4.80% |
-1.41% |
| 1992 |
6.21% |
-3.12% |
| 1991 |
9.33% |
0.76% |
| 1990 |
8.57% |
2.87% |
| 1989 |
5.70% |
-1.45% |
| 1988 |
7.15% |
4.10% |
| 1987 |
3.05% |
0.30% |
| 1986 |
2.75% |
0.29% |
| 1985 |
2.46% |
0.19% |
| 1984 |
2.27% |
-1.15% |
| 1983 |
3.42% |
-3.77% |
| 1982 |
7.19% |
-14.16% |
| 1981 |
21.35% |
-7.35% |
| 1980 |
28.70% |
10.37% |
| 1979 |
18.32% |
3.86% |
| 1978 |
14.46% |
4.36% |
| 1977 |
10.10% |
-5.23% |
| 1976 |
15.33% |
-9.92% |
| 1975 |
25.25% |
0.95% |
| 1974 |
24.30% |
21.08% |
| 1973 |
3.22% |
-8.47% |
| 1972 |
11.69% |
-1.82% |
| 1971 |
13.51% |
-2.44% |
| 1970 |
15.95% |
3.56% |
| 1969 |
12.39% |
1.62% |
| 1968 |
10.77% |
-0.11% |
| 1967 |
10.88% |
-0.38% |
| 1966 |
11.26% |
-2.29% |
| 1965 |
13.55% |
-15.91% |
| 1964 |
29.46% |
8.77% |
| 1963 |
20.69% |
14.07% |
| 1962 |
6.62% |
-1.58% |
| 1961 |
8.20% |
0.23% |
| 1960 |
7.97% |
0.23% |
