Inflation South Korea 2021
Average inflation: 2.5%
Current Inflation
Inflation is normal at 2.5%, around the ECB target.
Peak and Trough
The highest inflation was in November at 3.8%. The lowest inflation was in January at 0.9%.
- Highest month
- November: 3.8%
- Lowest month
- January: 0.9%
- Difference
- 2.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 6.5%. The lowest price increase was in Communication with an average of -0.7%.
- Highest increase
- Transport: 6.5%
- Lowest increase
- Communication: -0.7%
Historical Context
Current inflation is 1.1% higher than the 5-year average of 1.4%.
- 5-year average
- 1.4%
- 10-year average
- 1.3%
- All-time high (2008)
- 4.7%
- All-time low (2019)
- 0.4%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +2.0 percentage point.
- Change vs. previous year
- +2.0 percentage points
- Largest monthly swing
- November: +3.2 percentage points
ECB Target
Inflation is 0.5% 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 €102.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 0.9% | -0.3 |
| February | 1.4% | +0.5 |
| March | 1.9% | +1.1 |
| April | 2.5% | +2.5 |
| May | 2.6% | +2.8 |
| June | 2.3% | +2.1 |
| July | 2.6% | +2.2 |
| August | 2.6% | +1.8 |
| September | 2.4% | +1.5 |
| October | 3.2% | +3.1 |
| November | 3.8% | +3.2 |
| December | 3.7% | +3.1 |
| Average | 2.5% |
Data source
Data from OECD. Last updated: 11/01/2026.