Inflation South Korea 2002
Average inflation: 2.8%
Inflation in 2002
Inflation is normal at 2.8%, around the ECB target.
Peak and Trough
The highest inflation was in December at 3.7%. The lowest inflation was in July at 2.1%.
- Highest month
- December: 3.7%
- Lowest month
- July: 2.1%
- Difference
- 1.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 7.4%. The lowest price increase was in Communication with an average of -4.5%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 7.4%
- Lowest increase
- Communication: -4.5%
Historical Context
Inflation is 0.7 percentage points lower than the 5-year average of 3.5%.
- 5-year average
- 3.5%
- 10-year average
- 4.2%
- All-time high (1991)
- 9.3%
- All-time low (1999)
- 0.8%
Trend
Over the period 2000-2002, inflation has remained relatively stable. Compared to 2001, inflation has fallen by 1.3 percentage points.
- Change vs. previous year
- -1.3 percentage points
- Largest monthly swing
- July: -2.7 percentage points
ECB Target
Inflation is 0.8 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 ₩103 next year at this inflation rate.
Multi-year trend
Monthly figures 2002
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2001 |
|---|---|---|
| January | 2.6% | -0.8 |
| February | 2.6% | -1.0 |
| March | 2.3% | -1.7 |
| April | 2.5% | -2.3 |
| May | 3.0% | -2.3 |
| June | 2.6% | -2.4 |
| July | 2.1% | -2.7 |
| August | 2.4% | -2.3 |
| September | 3.1% | -0.2 |
| October | 2.8% | -0.6 |
| November | 3.5% | +0.1 |
| December | 3.7% | +0.5 |
| Average | 2.8% |
Data source
Data from OECD. Last updated: 13/01/2026.