South Korea Inflation Rate

Last updated: 2024-06-06

Annual inflation

2.66%

YoY ending in May 2024

Monthly inflation

0.09%

May 2024

The graph above shows the annual inflation rates in South Korea for the previous 10 calendar years, from 2014. For additional years, see the historical inflation rates. To calculate cumulative rates between two different periods, you can use the South Korea Inflation Calculator.

The current inflation rate in South Korea is 2.66%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in May 2024.

In May 2024, the monthly inflation rate was 0.09.

The following table contains recent YoY (Year-over-Year) and MoM (Month-over-Month) values.

Year Measure Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 YoY 2.80 3.12 3.09 2.91 2.66
MoM 0.39 0.55 0.15 0.04 0.09
2023 YoY 4.98 4.66 4.17 3.69 3.38 2.73 2.35 3.36 3.68 3.76 3.30 3.16
MoM 0.74 0.24 0.17 0.23 0.32 0.03 0.12 0.89 0.49 0.38 -0.52 0.04

Historical Annual Inflation Rates from 1965

The table below contains annual inflation rates in South Korea from 1965. The 'Inflation %' column indicates how much prices have changed since the previous year.

The 5-year and 10-year columns display the rolling average of the yearly inflation. For example, the 5-year avg. on the first row indicates that between 2018 and 2023, the average inflation rate was 2.40%. These values can be useful for long-term analysis and forecasting.

You can click or tap the table’s headers to sort the information.

Year Inflation 5-year Avg. 10-year Avg.
1965 9.60 - -
1966 15.26 - -
1967 11.52 - -
1968 11.03 - -
1969 16.29 - -
1970 14.42 12.23 -
1971 9.08 12.69 -
1972 9.19 12.85 -
1973 8.49 11.27 -
1974 26.45 13.53 -
1975 26.45 15.30 13.76
1976 9.60 15.66 14.16
1977 10.96 15.33 14.08
1978 16.40 17.74 14.46
1979 21.20 16.58 15.05
1980 32.20 17.22 16.25
1981 13.69 18.42 17.03
1982 4.84 17.79 16.55
1983 1.96 15.42 16.58
1984 2.45 12.11 14.32
1985 3.01 7.11 12.05
1986 1.39 3.60 10.76
1987 6.05 2.79 10.03
1988 7.18 3.52 9.31
1989 5.07 4.20 8.08
1990 9.34 5.42 6.26
1991 9.25 6.74 5.16
1992 4.46 7.38 5.06
1993 5.80 6.91 5.20
1994 5.57 7.02 5.60
1995 4.75 6.20 5.81
1996 4.93 5.33 6.03
1997 6.57 4.98 6.18
1998 3.97 5.52 6.21
1999 1.35 4.41 5.71
2000 2.78 3.96 5.08
2001 3.16 3.79 4.56
2002 3.73 3.46 4.22
2003 3.42 2.68 4.09
2004 3.04 3.24 3.82
2005 2.62 3.34 3.65
2006 2.09 2.97 3.38
2007 3.61 2.93 3.19
2008 4.14 3.16 2.92
2009 2.80 2.99 3.11
2010 3.03 3.03 3.18
2011 4.16 3.38 3.18
2012 1.43 3.31 3.12
2013 1.14 2.64 2.90
2014 0.83 2.34 2.66
2015 1.13 1.89 2.46
2016 1.34 1.29 2.33
2017 1.41 1.24 2.27
2018 1.32 1.27 1.95
2019 0.74 1.09 1.72
2020 0.61 1.06 1.48
2021 3.70 1.36 1.33
2022 5.02 1.98 1.61
2023 3.16 2.40 1.84

More historical data →