South Korea - Consumer Price Index (CPI)

South Korea: Consumer Price Index (CPI)

Mnemonic	CPI.IKOR
Unit	Index 2020=100, NSA
Adjustments	Not Seasonally Adjusted
	Monthly	0.11 %
Data	Aug 2022	108.62
	Jul 2022	108.74

Series Information

Source	Statistics Korea
Release	Consumer Price Index
Frequency	Monthly
Start Date	1/31/1965
End Date	8/31/2022

South Korea: Price

	Reference	Last	Previous	Units	Frequency
Consumer Price Index (CPI)	Aug 2022	108.62	108.74	Index 2020=100, NSA	Monthly
Producer Price Index (PPI)	Aug 2022	120.12	120.44	Index 2015=100, NSA	Monthly

Release Information

Description

For South Korea, the monthly consumer price index (CPI) 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.

In Data Buffet, high-level detail is supplied by Statistics Korea (KOSTAT), and two-digit detail by the Bank of Korea; these are disseminated on slightly different schedules.

Properties

Active:

Classification: COICOP
Measurement: Fixed-base value index relative to 2020 (Index 2020=100)
Adjustment: Not seasonally adjusted (NSA)
Native frequency: Monthly
Start dates:
- 1965m1 for total
- 1985m1 for components
Geo coverage:
- Country
- Province-level special city Seoul (IKOR_SE)

Predecessors:

2015=100 - 1965 to 2021 (archive specifier "_15")
2010=100 - 1970 to 2016 ("_10")
2005=100 - 1965 to 2011 ("05")
2000=100 - 2003 to 2006 ("00")

Methodology

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.

Moody's Analytics supplements

For the general index, we compute a seasonally adjusted counterpart.

Revisions

No. The data are final when initially released.

The index base period is advanced every five years.

Notes

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