South Korea's Ministry of Economy and Finance reported that consumer prices rose 3.1% year over year in August, up from 2.8% in July. The acceleration largely reflected a base effect from a temporary half-price mobile phone fee discount in August 2025. Excluding that effect, the ministry estimated inflation at 2.5%. Core inflation excluding food and energy increased to 3.4% from 2.6%, while the living cost index rose 3.2%.
2026-09-02Ministry of Economy & Finance (South Korea)
South Korea's Ministry of Economy and Finance reports August inflation accelerated to 3.1% on mobile fee base effect
South Korea's Ministry of Economy and Finance reported that August consumer inflation accelerated to 3.1%, largely because of a mobile phone fee base effect. Excluding that effect, inflation was estimated at 2.5%, while core inflation rose to 3.4%.