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South Korea Annual Inflation Rate

South Korea's annual inflation rate fell to 2.32% in 2024, down from 3.6% in 2023, according to World Bank. This represents a decrease of 1.28% from the previous year. South Korea has annual inflation rate lower than the global median (2.32% vs median 3.16%). Compared with the median in Asia, South Korea is lower (2.32% vs regional median 2.56%) and ranks 24th out of 44 countries in Asia.

Yearly Historical Data (1960-2024)

(in %)
Year Annual Inflation Rate (%)
2024 2.32%
2023 3.6%
2022 5.09%
2021 2.5%
2020 0.54%
2019 0.38%
2018 1.48%
2017 1.94%
2016 0.97%
2015 0.71%
2014 1.27%
2013 1.3%
2012 2.19%
2011 4.03%
2010 2.94%
2009 2.76%
2008 4.67%
2007 2.53%
2006 2.24%
2005 2.75%
2004 3.59%
2003 3.51%
2002 2.76%
2001 4.07%
2000 2.26%
1999 0.81%
1998 7.51%
1997 4.44%
1996 4.92%
1995 4.48%
1994 6.27%
1993 4.8%
1992 6.21%
1991 9.33%
1990 8.57%
1989 5.7%
1988 7.15%
1987 3.05%
1986 2.75%
1985 2.46%
1984 2.27%
1983 3.42%
1982 7.19%
1981 21.35%
1980 28.7%
1979 18.32%
1978 14.46%
1977 10.1%
1976 15.33%
1975 25.25%
1974 24.3%
1973 3.22%
1972 11.69%
1971 13.51%
1970 15.95%
1969 12.39%
1968 10.77%
1967 10.88%
1966 11.26%
1965 13.55%
1964 29.46%
1963 20.69%
1962 6.62%
1961 8.2%
1960 7.97%
South Korea Annual Inflation Rate : Definition
Annual Inflation Rate measures the yearly percentage increase in consumer prices in South Korea.
Indicator Last Value Prior Value Period
Core Inflation Rate 2.4% 1.9% Sep'25
Inflation Rate 2.1% 1.7% Sep'25
Inflation Rate MoM 0.5% -0.1% Sep'25
Producer Price Index (PPI) 1.2% 0.6% Sep'25