Inflation South Korea 1997
Average inflation: 4.4%
Inflation in 1997
Inflation is high at 4.4%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 6.6%. The lowest inflation was in July at 3.7%.
- Highest month
- December: 6.6%
- Lowest month
- July: 3.7%
- Difference
- 2.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 9.7%. The lowest price increase was in Communication with an average of -2.9%.
- Highest increase
- Transport: 9.7%
- Lowest increase
- Communication: -2.9%
Historical Context
Inflation is 0.6 percentage points lower than the 5-year average of 5.0%.
- 5-year average
- 5%
- 10-year average
- 6.2%
- All-time high (1980)
- 28.6%
- All-time low (1984)
- 2.3%
Trend
Over the period 1995-1997, inflation has remained relatively stable. Compared to 1996, inflation has fallen by 0.5 percentage points.
- Change vs. previous year
- -0.5 percentage points
- Largest monthly swing
- July: -1.7 percentage points
ECB Target
Inflation is 2.4 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for ₩100 this year will cost approximately ₩104 next year at this inflation rate.
Multi-year trend
Monthly figures 1997
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1996 |
|---|---|---|
| January | 4.7% | -0.1 |
| February | 4.9% | +0.1 |
| March | 4.5% | +0.1 |
| April | 4.3% | -0.2 |
| May | 3.8% | -1.1 |
| June | 4.0% | -1.2 |
| July | 3.7% | -1.7 |
| August | 4.0% | -1.3 |
| September | 4.2% | -0.3 |
| October | 4.2% | -0.8 |
| November | 4.3% | -1.0 |
| December | 6.6% | +1.7 |
| Average | 4.4% |
Data source
Data from OECD. Last updated: 13/01/2026.