Korea - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Korea was 118.67 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 118.67 in 2021 and a minimum value of 1.48 in 1960.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1960 1.48
1961 1.60
1962 1.70
1963 2.06
1964 2.66
1965 3.02
1966 3.36
1967 3.73
1968 4.13
1969 4.64
1970 5.38
1971 6.11
1972 6.82
1973 7.04
1974 8.76
1975 10.97
1976 12.65
1977 13.93
1978 15.94
1979 18.86
1980 24.27
1981 29.46
1982 31.57
1983 32.65
1984 33.40
1985 34.22
1986 35.16
1987 36.23
1988 38.82
1989 41.03
1990 44.55
1991 48.71
1992 51.74
1993 54.22
1994 57.62
1995 60.20
1996 63.16
1997 65.97
1998 70.92
1999 71.50
2000 73.11
2001 76.09
2002 78.19
2003 80.94
2004 83.84
2005 86.15
2006 88.08
2007 90.32
2008 94.54
2009 97.14
2010 100.00
2011 104.03
2012 106.30
2013 107.68
2014 109.06
2015 109.83
2016 110.89
2017 113.05
2018 114.72
2019 115.16
2020 115.78
2021 118.67

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices