Inflation South Korea 2004
Average inflation: 3.6%
Current Inflation
Inflation is high at 3.6%, well above the ECB target.
Peak and Trough
The highest inflation was in August at 4.8%. The lowest inflation was in December at 3.0%.
- Highest month
- August: 4.8%
- Lowest month
- December: 3.0%
- 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 8.1%. The lowest price increase was in Communication with an average of -1.6%.
- Highest increase
- Food and non-alcoholic beverages: 8.1%
- Lowest increase
- Communication: -1.6%
Historical Context
Current inflation is around the 5-year average of 3.3%.
- 5-year average
- 3.3%
- 10-year average
- 3.8%
- All-time high (1991)
- 9.3%
- All-time low (1999)
- 0.8%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.1 percentage point).
- Change vs. previous year
- +0.1 percentage points
- Largest monthly swing
- August: +1.8 percentage points
ECB Target
Inflation is 1.6% 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 €103.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 3.4% | -0.4 |
| February | 3.3% | -0.6 |
| March | 3.1% | -1.4 |
| April | 3.3% | -0.4 |
| May | 3.3% | +0.1 |
| June | 3.6% | +0.6 |
| July | 4.4% | +1.2 |
| August | 4.8% | +1.8 |
| September | 3.9% | +0.6 |
| October | 3.8% | +0.1 |
| November | 3.3% | -0.1 |
| December | 3.0% | -0.4 |
| Average | 3.6% |
Data source
Data from OECD. Last updated: 11/01/2026.