Korea, Rep. - Inflation, consumer prices (annual %) 1960 - 2022
Korea, Rep.'s inflation, consumer prices (annual %) is currently 5.09%, according to the most recent World Bank data for the country (2022).
Definition
The consumer price index gauges inflation by indicating the yearly percentage shift in the expenses for an average consumer to procure a collection of goods and services, which could either remain constant or alter at specified periods like annually; typically employing the Laspeyres formula.- Korea, Rep.'s inflation, consumer prices (annual %) for 2022 was 5.088%, a 103.65% increase from 2021, with a +2 difference.
- In 2021 it was 2.498%, a 364.99% increase from 2020, with a +1 difference.
- In 2020 it was 0.537%, a 40.28% increase from 2019.
- In 2019 it was 0.383%, a -74.05% increase from 2018.
- In 2018 it was 1.476%, a -24.10% increase from 2017.
Measure: Percent
Average, Lowest, and Highest Recorded Values
The average inflation, consumer prices (annual %), value for Korea, Rep. is currently 7.6477% (average of years with recorded data) with a lowest recorded value of 0.383% in 2019 and a highest value of 29.4628% in 1964.
Korea, Rep.'s Inflation, consumer prices (annual %) - Historical Data
| Year | Inflation, consumer prices (annual %) | Average Growth Rate (%) |
|---|---|---|
| 1960 | 7.966% | |
| 1961 | 8.196% | 2.89% |
| 1962 | 6.618% | -19.25% |
| 1963 | 20.692% | 212.64% |
| 1964 | 29.463% | 42.39% |
| 1965 | 13.548% | -54.02% |
| 1966 | 11.261% | -16.88% |
| 1967 | 10.882% | -3.36% |
| 1968 | 10.772% | -1.02% |
| 1969 | 12.39% | 15.02% |
| 1970 | 15.95% | 28.74% |
| 1971 | 13.512% | -15.29% |
| 1972 | 11.689% | -13.49% |
| 1973 | 3.221% | -72.44% |
| 1974 | 24.304% | 654.55% |
| 1975 | 25.249% | 3.89% |
| 1976 | 15.327% | -39.30% |
| 1977 | 10.097% | -34.13% |
| 1978 | 14.46% | 43.22% |
| 1979 | 18.323% | 26.72% |
| 1980 | 28.698% | 56.62% |
| 1981 | 21.352% | -25.60% |
| 1982 | 7.191% | -66.32% |
| 1983 | 3.421% | -52.43% |
| 1984 | 2.274% | -33.52% |
| 1985 | 2.459% | 8.14% |
| 1986 | 2.75% | 11.83% |
| 1987 | 3.05% | 10.90% |
| 1988 | 7.146% | 134.32% |
| 1989 | 5.7% | -20.23% |
| 1990 | 8.573% | 50.40% |
| 1991 | 9.333% | 8.86% |
| 1992 | 6.213% | -33.43% |
| 1993 | 4.801% | -22.73% |
| 1994 | 6.266% | 30.51% |
| 1995 | 4.481% | -28.49% |
| 1996 | 4.925% | 9.90% |
| 1997 | 4.439% | -9.86% |
| 1998 | 7.514% | 69.27% |
| 1999 | 0.813% | -89.18% |
| 2000 | 2.259% | 177.89% |
| 2001 | 4.067% | 80.00% |
| 2002 | 2.762% | -32.07% |
| 2003 | 3.515% | 27.25% |
| 2004 | 3.591% | 2.16% |
| 2005 | 2.754% | -23.31% |
| 2006 | 2.242% | -18.57% |
| 2007 | 2.535% | 13.03% |
| 2008 | 4.674% | 84.41% |
| 2009 | 2.756% | -41.02% |
| 2010 | 2.939% | 6.63% |
| 2011 | 4.026% | 36.97% |
| 2012 | 2.187% | -45.68% |
| 2013 | 1.301% | -40.50% |
| 2014 | 1.275% | -2.04% |
| 2015 | 0.706% | -44.59% |
| 2016 | 0.972% | 37.57% |
| 2017 | 1.944% | 100.10% |
| 2018 | 1.476% | -24.10% |
| 2019 | 0.383% | -74.05% |
| 2020 | 0.537% | 40.28% |
| 2021 | 2.498% | 364.99% |
| 2022 | 5.088% | 103.65% |
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Comparison with Countries in the East Asia & Pacific Region.
Among countries in the same World Bank East Asia & Pacific (EAP) region, Korea, Rep. comes in 15th with 5.088% inflation, consumer prices (annual %).
- Within the same region, Samoa comes in 5th with 10.962%, inflation, consumer prices (annual %).
- Myanmar comes in 6th with 8.825%.
- New Zealand comes in 7th with 7.172%.
- Australia comes in 8th with 6.594%.
- Singapore comes in 9th with 6.121%.
- Thailand comes in 10th with 6.077%.
- Philippines comes in 11th with 5.821%.
- Solomon Islands comes in 12th with 5.518%.
- Micronesia, Fed. Sts. comes in 13th with 5.409%.
- Cambodia comes in 14th with 5.344%.
- Fiji comes in 16th with 4.52%.
- Papua New Guinea comes in 17th with 4.484%.
- Indonesia comes in 18th with 4.209%.
- Brunei Darussalam comes in 19th with 3.682%.
- Malaysia comes in 20th with 3.379%.
- Vietnam comes in 21st with 3.157%.
- Japan comes in 22nd with 2.498%.
- Vanuatu comes in 23rd with 2.343%.
- China comes in 24th with 1.974%.
- And Hong Kong SAR, China comes in 25th with 1.881%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 10 Countries in the East Asia & Pacific Region.
Top 10 Countries in the East Asia & Pacific Region.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Lao PDR | 22.96% | 2022 |
| 2 | Mongolia | 15.15% | 2022 |
| 3 | Palau | 12.35% | 2022 |
| 4 | Tonga | 10.97% | 2022 |
| 5 | Samoa | 10.96% | 2022 |
| 6 | Myanmar | 8.83% | 2019 |
| 7 | New Zealand | 7.17% | 2022 |
| 8 | Australia | 6.59% | 2022 |
| 9 | Singapore | 6.12% | 2022 |
| 10 | Thailand | 6.08% | 2022 |
Comparison with Countries in the High income Group.
Among countries in the same World Bank High income (HI) group, Korea, Rep. comes in 40th with 5.088% inflation, consumer prices (annual %).
- Within the same income group, Finland comes in 30th with 7.124%, inflation, consumer prices (annual %).
- Germany comes in 31st with 6.873%.
- Canada comes in 32nd with 6.803%.
- Australia comes in 33rd with 6.594%.
- Luxembourg comes in 34th with 6.336%.
- Malta comes in 35th with 6.154%.
- Singapore comes in 36th with 6.121%.
- Norway comes in 37th with 5.764%.
- Bahamas, The comes in 38th with 5.605%.
- France comes in 39th with 5.222%.
- Guyana comes in 41st with 5.033%.
- Qatar comes in 42nd with 4.995%.
- United Arab Emirates comes in 43rd with 4.828%.
- Israel comes in 44th with 4.394%.
- Aruba comes in 45th with 4.257%.
- Barbados comes in 46th with 4.1%.
- Brunei Darussalam comes in 47th with 3.682%.
- Bahrain comes in 48th with 3.626%.
- Kuwait comes in 49th with 3.424%.
- And Panama comes in 50th with 2.857%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 14 Countries in the High income Group.
Top 14 Countries in the High income Group.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Lithuania | 19.705% | 2022 |
| 2 | Estonia | 19.398% | 2022 |
| 3 | Latvia | 17.310% | 2022 |
| 4 | Czechia | 15.100% | 2022 |
| 5 | Hungary | 14.608% | 2022 |
| 6 | Poland | 14.430% | 2022 |
| 7 | Romania | 13.796% | 2022 |
| 8 | Slovak Republic | 12.774% | 2022 |
| 9 | Chile | 11.644% | 2022 |
| 10 | Croatia | 10.781% | 2022 |
| 11 | Netherlands | 10.001% | 2022 |
| 12 | Greece | 9.645% | 2022 |
| 13 | Belgium | 9.598% | 2022 |
| 14 | Uruguay | 9.104% | 2022 |