Risk and sentiment
Korea CPI YoY
Year-over-year growth in Korea's consumer price index. It is the headline number behind the Bank of Korea's inflation target and the starting point for policy-rate decisions and real-rate calculations.
Korea CPI YoY latest observations
- Observed
- 2026-09-30
- Latest
- 2.88 %
- Change from previous
- ▼ -0.21 pp
Check the observation dates in both the summary and chart; release and refresh times can differ.
At a glance
Korea CPI YoY: latest value and prior change
As of 2026-09-30, Korea CPI YoY is 2.88 %. It is 0.21 pp lower than 3.09 % on 2026-08-31.
Across 405 available observations from 1993-01-31 to 2026-09-30, the latest value is at the tie-adjusted 53rd percentile.
- Observed on
- Default comparison window
- 1993-01-31–2026-09-30
- Observations · observed cadence
- 405 · Monthly
- Data source
- Bank of Korea ECOS
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
2021-10-31 → 2026-09-30 · %
- First
- 3.16 %
- 2021-10-31
- Latest
- 2.88 %
- 2026-09-30
- Window low
- 1.25 %
- 2024-10-31
- Window high
- 6.33 %
- 2022-07-31
The horizontal axis follows observation order; calendar intervals may differ. High and low refer to observed values within this window, not intraday or all-time extremes. Ties show the first observation date.
Time-series chart
Korea CPI YoY
1993-01-31–2026-09-30
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Recent observations and calculated changes
The ten latest chart observations. Change subtracts the previous observation; intervals vary with holidays, release schedules and missing data. A difference in rates or ratios is not an investment return.
| Observed | Value | Previous date | Difference (current − previous) |
|---|---|---|---|
| 2026-09-30 | 2.88 % | 2026-08-31 | -0.21 %p |
| 2026-08-31 | 3.09 % | 2026-07-31 | 0.30 %p |
| 2026-07-31 | 2.79 % | 2026-06-30 | -0.37 %p |
| 2026-06-30 | 3.16 % | 2026-05-31 | 0.02 %p |
| 2026-05-31 | 3.14 % | 2026-04-30 | 0.57 %p |
| 2026-04-30 | 2.57 % | 2026-03-31 | 0.41 %p |
| 2026-03-31 | 2.16 % | 2026-02-28 | 0.16 %p |
| 2026-02-28 | 2.00 % | 2026-01-31 | -0.01 %p |
| 2026-01-31 | 2.00 % | 2025-12-31 | -0.31 %p |
| 2025-12-31 | 2.31 % | 2025-11-30 | -0.13 %p |
Source: Bank of Korea ECOS
Interpretation guide
Korea CPI YoY: measuring the distance to the Bank of Korea's 2% target
Korea CPI YoY is the year-over-year change in the Statistics Korea consumer price index, and it is the exact number the Bank of Korea anchors its inflation-targeting framework to. Released early each month, its distance from the 2% target is the starting point for reading policy direction.
Think in distance from 2%
The Bank of Korea targets 2% consumer inflation. Markets react less to the print itself than to the gap versus target and the speed at which that gap is closing.
- Extended periods well above 2% tend to push rate-cut expectations further out.
- Several months of convergence toward 2% typically opens the door to a policy-pivot debate.
- Readings below 1% can flag demand weakness, raising easing hopes and growth worries at once.
The base-effect trap
Every year-over-year series is hostage to base effects. If prices spiked in the same month last year, this year's print can look tame regardless of the underlying trend.
- First check for one-off factors a year ago, such as an oil spike or utility-price resets.
- Cross-check whether core inflation, published alongside the headline, is moving the same way.
- Treating a base-effect-driven dip as durable disinflation invites misjudgment when it rebounds.
Transmission to equities and the won
CPI YoY reaches KOSPI and the won through rate expectations. Upside surprises pressure growth-stock valuations via longer-tightening fears, while downside surprises often do the opposite.
- On an above-consensus print, watch the BOK Base Rate path and the Korea Treasury 10Y reaction together.
- If Korea PPI YoY rolled over first, a CPI slowdown is more likely to stick.
- Falling inflation is not automatically bullish — the reason it fell matters more than the fall itself.