Inflation South Korea 2020
Average inflation: 0.5%
Inflation in 2020
Inflation is very low at 0.5%, well below the ECB target.
Peak and Trough
The highest inflation was in January at 1.2%. The lowest inflation was in May at -0.2%.
- Highest month
- January: 1.2%
- Lowest month
- May: -0.2%
- Difference
- 1.4 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 4.4%. The lowest price increase was in Education with an average of -2.1%.
- Highest increase
- Food and non-alcoholic beverages: 4.4%
- Lowest increase
- Education: -2.1%
Historical Context
Inflation is 0.6 percentage points lower than the 5-year average of 1.1%.
- 5-year average
- 1.1%
- 10-year average
- 1.5%
- All-time high (2008)
- 4.7%
- All-time low (2019)
- 0.4%
Trend
Over the period 2018-2020, inflation has remained relatively stable. Compared to 2019, inflation has risen by 0.1 percentage points.
- Change vs. previous year
- +0.1 percentage points
- Largest monthly swing
- September: +1.3 percentage points
ECB Target
Inflation is 1.5 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for ₩100 this year will cost approximately ₩100 next year at this inflation rate.
Multi-year trend
Monthly figures 2020
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2019 |
|---|---|---|
| January | 1.2% | +0.4 |
| February | 0.9% | +0.4 |
| March | 0.8% | +0.4 |
| April | 0.0% | -0.6 |
| May | -0.2% | -0.9 |
| June | 0.2% | -0.5 |
| July | 0.4% | -0.2 |
| August | 0.8% | +0.8 |
| September | 0.9% | +1.3 |
| October | 0.1% | +0.1 |
| November | 0.6% | +0.4 |
| December | 0.6% | -0.1 |
| Average | 0.5% |
Data source
Data from OECD. Last updated: 13/01/2026.