Korea, Rep.: Inflation, GDP deflator (annual %)
In , Korea, Rep.'s Inflation, GDP deflator (annual %) was 4.07.
That's up 99.5% from 2023, the highest value on record.
The global average for this indicator in 2024 was 13.69 . Korea, Rep. ranks #89 globally out of 193 reporting countries. Within East Asia & Pacific, it ranks #11 of 30.
Source: World Bank Open Data (NY.GDP.DEFL.KD.ZG) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 4.07
- Trough
- -0.62
- 1-year change
- +99.5%
- 5-year change
- +751.4%
- 10-year change
- +286.8%
- +14.5% / yr
Historical Data — Last 10 Years
| Year | Inflation, GDP deflator (annual %) |
|---|---|
| 4.0664 | |
| 2.0385 | |
| 1.8079 | |
| 3.1805 | |
| 1.5872 | |
| -0.6242 | |
| 0.5666 | |
| 2.0188 | |
| 2.0625 | |
| 3.2285 |
About Inflation, GDP deflator (annual %)
Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.
Indicator code: NY.GDP.DEFL.KD.ZG • Category: Economy
Frequently asked questions
- What was Korea, Rep.'s Inflation, GDP deflator (annual %) in 2024?
- In 2024, Korea, Rep.'s Inflation, GDP deflator (annual %) was 4.07, according to World Bank Open Data.
- Is Korea, Rep.'s Inflation, GDP deflator (annual %) rising or falling?
- Korea, Rep.'s Inflation, GDP deflator (annual %) rose 99.5% from 2023 to 2024.
- How does Korea, Rep. rank globally on Inflation, GDP deflator (annual %)?
- In 2024, Korea, Rep. ranked #89 out of 193 countries reporting Inflation, GDP deflator (annual %).
- How does Korea, Rep.'s Inflation, GDP deflator (annual %) compare to the world average?
- The global average for Inflation, GDP deflator (annual %) in 2024 was 13.69, so Korea, Rep. is below the world average. Within East Asia & Pacific, it ranks #11 of 30.
- What is Inflation, GDP deflator (annual %) and how is it measured?
- Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.
Source: World Bank Open Data (NY.GDP.DEFL.KD.ZG), CC BY 4.0.