South Korea inflation rate for 2023 was 3.60%, a 1.49% decline from 2022.
South Korea inflation rate for 2022 was 5.09%, a 2.59% increase from 2021.
South Korea inflation rate for 2021 was 2.50%, a 1.96% increase from 2020.
South Korea inflation rate for 2020 was 0.54%, a 0.15% increase from 2019.
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.
