Inflation South Korea 2003
Average inflation: 3.5%
Inflation in 2003
Inflation is high at 3.5%, well above the ECB target.
Peak and Trough
The highest inflation was in March at 4.5%. The lowest inflation was in June at 3.0%.
- Highest month
- March: 4.5%
- Lowest month
- June: 3.0%
- Difference
- 1.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 5.9%. The lowest price increase was in Communication with an average of -5.2%.
- Highest increase
- Education: 5.9%
- Lowest increase
- Communication: -5.2%
Historical Context
Inflation is 0.8 percentage points higher than the 5-year average of 2.7%.
- 5-year average
- 2.7%
- 10-year average
- 4.1%
- All-time high (1991)
- 9.3%
- All-time low (1999)
- 0.8%
Trend
Over the period 2001-2003, inflation has remained relatively stable. Compared to 2002, inflation has risen by 0.7 percentage points.
- Change vs. previous year
- +0.7 percentage points
- Largest monthly swing
- March: +2.2 percentage points
ECB Target
Inflation is 1.5 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 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 3.8% | +1.2 |
| February | 3.9% | +1.3 |
| March | 4.5% | +2.2 |
| April | 3.7% | +1.2 |
| May | 3.2% | +0.2 |
| June | 3.0% | +0.4 |
| July | 3.2% | +1.1 |
| August | 3.0% | +0.6 |
| September | 3.3% | +0.2 |
| October | 3.7% | +0.9 |
| November | 3.4% | -0.1 |
| December | 3.4% | -0.3 |
| Average | 3.5% |
Data source
Data from OECD. Last updated: 13/01/2026.