South Korea - Consumer Price Index (CPI)

South Korea: Consumer Price Index (CPI)

Mnemonic	CPI.IKOR
Unit	Index 2015=100, NSA
Adjustments	Not Seasonally Adjusted
	Monthly	0.16 %
Data	Dec 2020	105.67
	Nov 2020	105.5

Series Information

Source	Statistics Korea
Release	Consumer Price Index
Frequency	Monthly
Start Date	1/31/1965
End Date	12/31/2020

South Korea: Price

	Reference	Last	Previous	Units	Frequency
Consumer Price Index (CPI)	Dec 2020	105.67	105.5	Index 2015=100, NSA	Monthly
Producer Price Index (PPI)	Nov 2020	103.06	103.01	Index 2015=100, NSA	Monthly

Release Information

Description

The monthly CPI for South Korea is a measure of the average change in prices for a fixed-market basket of goods and services of constant quantity and quality purchased by consumers, detailed by COICOP.

Methodology

Classification: Classification of Individual Consumption by Purpose (COICOP).

Population coverage: Nationwide, households of one person or more, excluding farming and fishery households. Covers about 92.9 percent of total households of Korea. 37 cities were selected to represent the coverage of the entire country.

Item coverage: The goods and services included are limited to consumption expenditures and exclude investment items such as stocks, bonds and real estate, but include rent deposits. The 2010-base index is calculated on 481 items representing all goods and services purchased for daily life by households.

Price sample: Each month about 100,000 price quotes are obtained from approximately 26,000 outlets and the quotes are obtained by personal interview. About 10,500 housing units are contacted for data on rents.

Index computation: Laspeyres methodology.

Revisions

The data are final when initially released.

Notes

The CPI was rebased from 2010 to 2015 in late 2016.

At the subnational level, the CPIs cannot be used to compare prices between areas; they indicate price changes only over time.