Inflation South Korea 2008
Average inflation: 4.7%
Current Inflation
Inflation is high at 4.7%, well above the ECB target.
Peak and Trough
The highest inflation was in July at 5.9%. The lowest inflation was in February at 3.6%.
- Highest month
- July: 5.9%
- Lowest month
- February: 3.6%
- Difference
- 2.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Miscellaneous goods and services with an average of 9.0%. The lowest price increase was in Communication with an average of -1.4%.
- Highest increase
- Miscellaneous goods and services: 9.0%
- Lowest increase
- Communication: -1.4%
Historical Context
Current inflation is 1.5% higher than the 5-year average of 3.2%.
- 5-year average
- 3.2%
- 10-year average
- 2.9%
- All-time high (1991)
- 9.3%
- All-time low (1999)
- 0.8%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +2.2 percentage point.
- Change vs. previous year
- +2.2 percentage points
- Largest monthly swing
- August: +3.6 percentage points
ECB Target
Inflation is 2.7% 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 €104.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 3.9% | +2.2 |
| February | 3.6% | +1.4 |
| March | 3.9% | +1.7 |
| April | 4.1% | +1.7 |
| May | 4.9% | +2.6 |
| June | 5.5% | +3.0 |
| July | 5.9% | +3.4 |
| August | 5.6% | +3.6 |
| September | 5.1% | +2.8 |
| October | 4.8% | +1.8 |
| November | 4.5% | +1.0 |
| December | 4.1% | +0.5 |
| Average | 4.7% |
Data source
Data from OECD. Last updated: 11/01/2026.