Inflation rates by country and year

0%7.4%14.7%22.1%29.5%
0%7.4%14.7%22.1%29.5%
19608.0%
19926.2%
20252.1%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate2.1%

Behind the curve

Turning points in Korea, Rep.

  1. 1964↑ Upward pressure

    The 1963–64 stabilization effort — Wikipedia (opens in a new tab)

    Korea entered 1964 after prolonged postwar inflation; the authorities' 1963 stabilization programme combined financial restraint with exchange-rate reform to bring the price surge under control.

    IMF Staff Papers · Stabilizing an Economy: A Study of the Republic of Korea
  2. 1974↑ Upward pressure

    The first oil shock — Wikipedia (opens in a new tab)

    South Korea's heavy dependence on imported oil made it vulnerable to the 1973 embargo. Energy and production costs rose through 1974, with effects carrying into 1975 as inflation stayed above 25%.

    IMF · On the Map: Making Surveillance Work
  3. 1980↑ Upward pressure

    The second oil shock and political crisis — Wikipedia (opens in a new tab)

    The 1979–80 oil price surge coincided with domestic political turmoil after Chun Doo-hwan's coup. The combined shock pushed inflation to nearly 29% in 1980 before easing.

    IMF · Korea's Major Adjustment Effort: Effective Policymaking in Difficult Circumstances
  4. 1998↕ Mixed effects

    The Asian financial crisis — Wikipedia (opens in a new tab)

    The won's sharp depreciation after the 1997 crisis raised import costs, but the deep recession and IMF-led austerity dampened demand. Inflation rose only modestly in 1998 before stabilising.

    IMF Working Paper · The Asian Crisis: Causes, Policy Responses, and Outcomes
  5. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Recovering demand and higher global energy and food prices pushed Korean inflation to a decade-high of about 5% in 2022, well above the Bank of Korea's 2% target.

    IMF · Republic of Korea: 2022 Article IV Consultation

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Korea, Rep.?

The annual inflation rate in Korea, Rep. was 2.1% in 2025, the most recent year in the World Bank dataset. That means prices rose 2.1% on average compared with the year before. Use the chart above to explore Korea, Rep.'s full inflation history from 1960 to 2025, and to compare it with any other country.

How inflation in Korea, Rep. has changed

Inflation in Korea, Rep. peaked at 29.5% in 1964 and reached its lowest point at 0.4% in 2019. Averaged across the 66 years of available data (1960–2025), the rate has been 7.4% per year.

Frequently asked questions about inflation in Korea, Rep.

What is the current inflation rate in Korea, Rep.?

The latest available annual figure is 2.1% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Korea, Rep.'s statistical office.

What was the highest inflation rate in Korea, Rep.?

The highest annual inflation rate on record is 29.5%, reached in 1964.

What was the lowest inflation rate in Korea, Rep.?

The lowest annual inflation rate on record is 0.4%, recorded in 2019.

Where does the inflation data for Korea, Rep. come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.