Archive · 2 Sep 2026
South Korea Inflation Hits 3.1% as Fuel, Mobile Fees Rise
Prices in South Korea rose more quickly in August than in July.
Overall consumer prices were 3.1% higher than a year earlier.
Fuel became more expensive, especially diesel and gasoline.
Mobile phone bills also rose sharply compared with last year.
This was partly because a large discount last year made the earlier prices unusually low.
Without the mobile bill effect, inflation would have been about 2.5%.
Prices for services, insurance and overseas tours also increased.
Some farm and seafood prices fell because there were larger supplies and government discounts.
South Korea’s consumer prices rose 3.1% year-on-year in August, up from 2.8% in July.
Oil prices increased 14.2%, with diesel rising 19.6% and gasoline 11.5%.
Mobile phone service charges jumped 26.7% because of a low base after discounts following SK Telecom’s data breach.
Core inflation reached 3.4%, its highest level since 3.8% in May 2023.
Agricultural, livestock and fishery prices fell 2.6%, while service prices rose 3.7%.
- Who
- Consumers and businesses in South Korea, with data reported by the Ministry of Data and Statistics.
- What
- Consumer prices increased 3.1% year-on-year in August.
- When
- August, compared with the same month a year earlier; the figures were reported on Wednesday.
- Where
- South Korea.
- Why
- Higher oil prices and increased mobile service charges drove inflation, while last year’s mobile discounts created a low comparison base.
- August inflation
- 3.1% year-on-year
- July inflation
- 2.8% year-on-year
- Oil price increase
- 14.2% year-on-year in August
- Mobile service charges
- Up 26.7% year-on-year
- Estimated inflation excluding mobile bills
- 2.5%
- Core inflation
- 3.4%, the highest since May 2023
- Service prices
- Up 3.7% year-on-year