Inflation South Korea 1989
Average inflation: 5.7%
Inflation in 1989
Inflation is very high at 5.7%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 6.8%. The lowest inflation was in March at 4.6%.
- Highest month
- January: 6.8%
- Lowest month
- March: 4.6%
- Difference
- 2.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Restaurants and hotels with an average of 15.1%. The lowest price increase was in Communication with an average of -10.8%.
- Highest increase
- Restaurants and hotels: 15.1%
- Lowest increase
- Communication: -10.8%
Historical Context
Inflation is 1.4 percentage points higher than the 5-year average of 4.3%.
- 5-year average
- 4.3%
- 10-year average
- 8.4%
- All-time high (1980)
- 28.6%
- All-time low (1984)
- 2.3%
Trend
Over the period 1987-1989, inflation shows an upward trend. Compared to 1988, inflation has fallen by 1.5 percentage points.
- Change vs. previous year
- -1.5 percentage points
- Largest monthly swing
- March: -3.9 percentage points
ECB Target
Inflation is 3.7 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for ₩100 this year will cost approximately ₩106 next year at this inflation rate.
Multi-year trend
Monthly figures 1989
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1988 |
|---|---|---|
| January | 6.8% | +0.6 |
| February | 5.4% | -2.4 |
| March | 4.6% | -3.9 |
| April | 5.2% | -2.5 |
| May | 6.0% | -0.6 |
| June | 5.5% | -1.9 |
| July | 5.3% | -2.6 |
| August | 5.5% | -1.4 |
| September | 6.2% | -0.3 |
| October | 6.7% | +0.6 |
| November | 6.1% | -1.1 |
| December | 5.1% | -2.1 |
| Average | 5.7% |
Data source
Data from OECD. Last updated: 13/01/2026.