Though Republic of Korea inflation rate fluctuated substantially in recent years, it tended to decrease through 1997 - 2016 period ending at 1 % in 2016.The description is composed by Yodatai, our digital data assistant. Have a question? Ask Yodatai ›
Inflation as measured by the consumer price index reflects the annual percentage change 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 for inflation are averages for the year, not end-of-period data.
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