S. Korea’s CPI rises 1.9% YoY in Dec ’24

South Korea’s Consumer Price Index (CPI) rose to 114.18 in 2024, marking a 2.3 per cent increase from the previous year, based on 2020 as the base year. In December 2024, the CPI reached 114.91, reflecting a 0.4 per cent rise from November and a 1.9 per cent increase year-on-year (YoY).

The index excluding food and energy stood at 111.59 in December, edging up 0.1 per cent from the prior month and increasing 1.8 per cent compared to the same period in 2023.

By expenditure category, the following monthly changes were noted for December 2024:

• Food and non-alcoholic beverages: Up 1.9 per cent.
• Housing, water, electricity, gas, and other fuels: Up 0.2 per cent.
• Transport: Up 0.6 per cent.
• Education: Up 0.1 per cent.

Conversely, the index for alcoholic beverages and tobacco and miscellaneous goods and services dropped by 0.2 per cent and 0.4 per cent, respectively. Categories such as clothing and footwear, health, and communication showed no change from the preceding month.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser