Archive · 2 Sep 2025
South Korea's Inflation Expected to Rise to Around 2% in September
The Bank of Korea (BOK) expects inflation in South Korea to go up to about 2% in September.
This is because some things that made inflation slow down in August, like lower phone bills, won't be happening anymore.
In August, inflation was only 1.7%, the slowest in nine months.
A big reason for this was that SK Telecom gave a discount on phone bills due to a data breach.
The BOK previously thought inflation this year would be 1.9%, but now expects it to be 2%.
They believe that the temporary things that slowed down inflation are ending.
BOK projects consumer inflation to rise to around 2% in September.
Consumer prices rose 1.7% year-on-year in August, the slowest in nine months.
Temporary factors, including lower mobile phone charges, pulled down August's inflation.
SK Telecom provided a 50% discount on August bills due to a data breach.
BOK revised its 2024 consumer inflation forecast to 2% from 1.9%.
- Who
- Bank of Korea (BOK)
- What
- Predicts consumer inflation to rebound to around 2% in September.
- When
- September
- Where
- South Korea
- Why
- Temporary factors from August are expected to dissipate.
- August Inflation Rate
- 1.7%
- Expected September Inflation
- Around 2%
- BOK Inflation Target
- 2%
- Previous BOK Forecast
- 1.9%
- August Telecom Discount
- 50% by SK Telecom
- Telecom Discount Reason
- Data breach