Inflation South Korea 1994
Average inflation: 6.3%
Inflation in 1994
Inflation is very high at 6.3%, far above the ECB target.
Peak and Trough
The highest inflation was in August at 7.4%. The lowest inflation was in December at 5.6%.
- Highest month
- August: 7.4%
- Lowest month
- December: 5.6%
- Difference
- 1.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 10.2%. The lowest price increase was in Communication with an average of -2.5%.
- Highest increase
- Food and non-alcoholic beverages: 10.2%
- Lowest increase
- Communication: -2.5%
Historical Context
Inflation is 0.8 percentage points lower than the 5-year average of 7.1%.
- 5-year average
- 7.1%
- 10-year average
- 5.7%
- All-time high (1980)
- 28.6%
- All-time low (1984)
- 2.3%
Trend
Over the period 1992-1994, inflation has remained relatively stable. Compared to 1993, inflation has risen by 1.5 percentage points.
- Change vs. previous year
- +1.5 percentage points
- Largest monthly swing
- August: +3.0 percentage points
ECB Target
Inflation is 4.3 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 1994
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1993 |
|---|---|---|
| January | 6.4% | +1.9 |
| February | 6.8% | +2.2 |
| March | 6.4% | +1.6 |
| April | 5.9% | +1.1 |
| May | 5.7% | +1.2 |
| June | 5.9% | +1.1 |
| July | 6.9% | +2.6 |
| August | 7.4% | +3.0 |
| September | 6.5% | +1.9 |
| October | 5.8% | +0.7 |
| November | 6.1% | +0.6 |
| December | 5.6% | -0.2 |
| Average | 6.3% |
Data source
Data from OECD. Last updated: 13/01/2026.