South Korea Inflation Hits 30-Month High of 3.2 Percent

South Korea's consumer price inflation reached 3.2 percent in June 2026, marking the highest level in 30 months. According to Statistics Korea, the increase was primarily fueled by a 24.7 percent spike in oil products resulting from Middle East tensions. Other significant contributors to the rise included a 28.2 percent jump in international airfares and a 22.2 percent increase in computer prices.

This surge continues a trend of elevated costs, with headline inflation remaining above the central bank's 2 percent mid-term target for 10 consecutive months since September 2025. Despite the year-on-year increase, seasonally adjusted month-on-month prices rose 0.1 percent in June, representing a slowdown from the 0.5 percent increase recorded in May.