East Asia & Pacific
Korea, Rep. Inflation
Annual percentage change in consumer prices (CPI).
Latest Value
2.3%
As of 2024
YoY Change
-35.5%
2023 → 2024
Record High
29.5%
Recorded in 1964
Record Low
0.4%
Recorded in 2019
10-Year Average
2.0%
2015–2024
Data Range
1960–2024
65 data points
Source
World Bank
Code: FP.CPI.TOTL.ZG
Historical Trend
1960 – 2024
Analysis
Korea, Rep.'s inflation rate of 2.32% in 2024 indicates a moderate increase in prices, suggesting a stable economy. This rate is within the target range of many central banks, implying that the economy is not experiencing excessive inflationary pressures. The country's inflation performance is influenced by factors such as monetary policy, global commodity prices, and domestic demand.
Historical Data
| Value | YoY Change | Change % | |
|---|---|---|---|
| 2024 | 2.3% | 1.3% | -35.5% |
| 2023 | 3.6% | 1.5% | -29.3% |
| 2022 | 5.1% | 2.6% | +103.7% |
| 2021 | 2.5% | 2.0% | +365.0% |
| 2020 | 0.5% | 0.2% | +40.3% |
| 2019 | 0.4% | 1.1% | -74.0% |
| 2018 | 1.5% | 0.5% | -24.1% |
| 2017 | 1.9% | 1.0% | +100.1% |
| 2016 | 1.0% | 0.3% | +37.6% |
| 2015 | 0.7% | 0.6% | -44.6% |
Source: World Bank Open Data · 1960–2024
Neighbouring Countries Ranking
East Asia & Pacific · Inflation
