2026.08.0323:00:00UTC+00South Korea’s Inflation Cools to 2.8% in July, Easing from 3.2% in June

South Korea’s consumer price inflation eased in July 2026, with the Consumer Price Index (CPI) rising 2.8% year-over-year, down from 3.2% in June 2026. The data, updated on 3 August 2026, show a moderation in price pressures on an annual basis as measured by the change in CPI compared with the same month a year earlier.

On a year-over-year comparison, the latest figure indicates that July’s price growth is slower than in June, when inflation had been running at 3.2% compared with June of the previous year. The July reading suggests a tentative cooling trend, as the pace of consumer price increases decelerates heading into the second half of 2026.

The figures are based on annual comparisons: the “actual” July 2026 value reflects the change from July a year ago, while the “previous” June 2026 value captures the change from June a year earlier. This sequential easing from 3.2% to 2.8% points to a softening inflation backdrop in Asia’s fourth-largest economy.