Korea - Inflation

Inflation, consumer prices (annual %)

The value for Inflation, consumer prices (annual %) in Korea was 2.50 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 29.46 in 1964 and a minimum value of 0.38 in 2019.

Definition: 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.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1960 7.97
1961 8.20
1962 6.62
1963 20.69
1964 29.46
1965 13.55
1966 11.26
1967 10.88
1968 10.77
1969 12.39
1970 15.95
1971 13.51
1972 11.69
1973 3.22
1974 24.30
1975 25.25
1976 15.33
1977 10.10
1978 14.46
1979 18.32
1980 28.70
1981 21.35
1982 7.19
1983 3.42
1984 2.27
1985 2.46
1986 2.75
1987 3.05
1988 7.15
1989 5.70
1990 8.57
1991 9.33
1992 6.21
1993 4.80
1994 6.27
1995 4.48
1996 4.92
1997 4.44
1998 7.51
1999 0.81
2000 2.26
2001 4.07
2002 2.76
2003 3.51
2004 3.59
2005 2.75
2006 2.24
2007 2.53
2008 4.67
2009 2.76
2010 2.94
2011 4.03
2012 2.19
2013 1.30
2014 1.27
2015 0.71
2016 0.97
2017 1.94
2018 1.48
2019 0.38
2020 0.54
2021 2.50

Inflation, GDP deflator (annual %)

The value for Inflation, GDP deflator (annual %) in Korea was 1.31 as of 2020. As the graph below shows, over the past 59 years this indicator reached a maximum value of 30.60 in 1974 and a minimum value of -1.23 in 1999.

Definition: Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1961 12.91
1962 16.72
1963 30.00
1964 30.30
1965 4.73
1966 14.49
1967 12.96
1968 13.88
1969 14.09
1970 14.85
1971 11.21
1972 15.78
1973 12.72
1974 30.60
1975 23.68
1976 21.24
1977 14.45
1978 21.84
1979 18.53
1980 24.65
1981 16.59
1982 6.46
1983 4.82
1984 4.42
1985 3.99
1986 4.97
1987 4.83
1988 7.12
1989 6.07
1990 10.09
1991 9.14
1992 7.78
1993 6.25
1994 8.16
1995 7.02
1996 4.11
1997 4.00
1998 4.48
1999 -1.23
2000 1.02
2001 3.48
2002 3.03
2003 3.45
2004 3.13
2005 1.04
2006 -0.22
2007 2.42
2008 2.83
2009 3.61
2010 2.74
2011 1.28
2012 1.25
2013 1.02
2014 0.91
2015 3.19
2016 1.99
2017 2.22
2018 0.48
2019 -0.84
2020 1.31

Inflation, GDP deflator: linked series (annual %)

The latest value for Inflation, GDP deflator: linked series (annual %) in Korea was 1.31 as of 2020. Over the past 30 years, the value for this indicator has fluctuated between 10.09 in 1990 and -1.23 in 1999.

Definition: Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.

Source: World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.

See also:

Year Value
1990 10.09
1991 9.14
1992 7.78
1993 6.25
1994 8.16
1995 7.02
1996 4.11
1997 4.00
1998 4.48
1999 -1.23
2000 1.02
2001 3.48
2002 3.03
2003 3.45
2004 3.13
2005 1.04
2006 -0.22
2007 2.42
2008 2.83
2009 3.61
2010 2.74
2011 1.28
2012 1.25
2013 1.02
2014 0.91
2015 3.19
2016 1.99
2017 2.22
2018 0.48
2019 -0.84
2020 1.31

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices