# South Korea Inflation Calculator

Result: ₩100 in 1961 → ₩7,234.06 in 2020

### South Korean Inflation Rate, ₩100 from 1961 to 2020

Updated: March 11, 2020

According to the World Bank consumer price index for South Korea, today's prices in 2020 are 7,134.06% higher than average prices since 1961. The South Korean Won experienced an average inflation rate of 7.53% per year during this period, meaning the real value of a won decreased.

In other words, ₩100 in 1961 is equivalent in purchasing power to about ₩7,234.06 in 2020, a difference of ₩7,134.06 over 59 years. This inflation data is collected by the World Bank and is specific to South Korea.

The 1961 inflation rate was 8.20%. The current inflation rate (2019 to 2020) is now 0.38%1. If this number holds, ₩100 today will be equivalent in buying power to ₩100.38 next year.

 Cumulative price change 7,134.06% Average inflation rate 7.53% Converted amount (₩100 base) ₩7,234.06 Price difference (₩100 base) ₩7,134.06 CPI in 1961 1.598 CPI in 2020 115.600 Inflation in 1961 8.20% Inflation in 2020 0.38%

KRW Inflation since 1960
Annual Rate, the World Bank CPI

### Buying power of ₩100 in 1961

This chart shows a calculation of buying power equivalence for ₩100 in 1961 (price index tracking began in 1960).

For example, if you started with ₩100, you would need to end with ₩7,234.06 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When ₩100 is equivalent to ₩7,234.06 over time, that means that the "real value" of a single South Korean won decreases over time. In other words, a won will pay for fewer items at the store.

This effect explains how inflation erodes the value of a won over time. By calculating the value in 1961 dollars, the chart below shows how ₩100 buys less over the past 59 years.

According to the World Bank, each of these KRW amounts below is equal in terms of what it could buy at the time:

Year Won Value Inflation Rate
1961 ₩100.00 8.20%
1962 ₩106.62 6.62%
1963 ₩128.68 20.69%
1964 ₩166.59 29.46%
1965 ₩189.16 13.55%
1966 ₩210.46 11.26%
1967 ₩233.37 10.88%
1968 ₩258.51 10.77%
1969 ₩290.53 12.39%
1970 ₩336.88 15.95%
1971 ₩382.39 13.51%
1972 ₩427.09 11.69%
1973 ₩440.85 3.22%
1974 ₩547.99 24.30%
1975 ₩686.36 25.25%
1976 ₩791.56 15.33%
1977 ₩871.48 10.10%
1978 ₩997.49 14.46%
1979 ₩1,180.27 18.32%
1980 ₩1,518.98 28.70%
1981 ₩1,843.31 21.35%
1982 ₩1,975.85 7.19%
1983 ₩2,043.44 3.42%
1984 ₩2,089.91 2.27%
1985 ₩2,141.30 2.46%
1986 ₩2,200.19 2.75%
1987 ₩2,267.28 3.05%
1988 ₩2,429.31 7.15%
1989 ₩2,567.78 5.70%
1990 ₩2,787.93 8.57%
1991 ₩3,048.14 9.33%
1992 ₩3,237.51 6.21%
1993 ₩3,392.95 4.80%
1994 ₩3,605.54 6.27%
1995 ₩3,767.10 4.48%
1996 ₩3,952.62 4.92%
1997 ₩4,128.08 4.44%
1998 ₩4,438.24 7.51%
1999 ₩4,474.32 0.81%
2000 ₩4,575.40 2.26%
2001 ₩4,761.46 4.07%
2002 ₩4,892.99 2.76%
2003 ₩5,064.97 3.51%
2004 ₩5,246.84 3.59%
2005 ₩5,391.34 2.75%
2006 ₩5,512.21 2.24%
2007 ₩5,651.93 2.53%
2008 ₩5,916.09 4.67%
2009 ₩6,079.18 2.76%
2010 ₩6,257.86 2.94%
2011 ₩6,509.79 4.03%
2012 ₩6,652.17 2.19%
2013 ₩6,738.74 1.30%
2014 ₩6,824.64 1.27%
2015 ₩6,872.84 0.71%
2016 ₩6,939.62 0.97%
2017 ₩7,074.56 1.94%
2018 ₩7,178.97 1.48%
2019 ₩7,206.46 0.38%
2020 ₩7,234.06 0.38%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 53 more rows

### How to Calculate Inflation Rate for ₩100 since 1961

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1961
×
1961 KRW value
=
2020 KRW value

Then plug in historical CPI values. The South Korean CPI was 1.5979910581 in the year 1961 and 115.59958278213516 in 2020:

115.599582782135161.5979910581
×
₩100
=
₩7,234.06

₩100 in 1961 has the same "purchasing power" or "buying power" as ₩7,234.06 in 2020.

To get the total inflation rate for the 59 years between 1961 and 2020, we use the following formula:

CPI in 2020 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (59 years)

Plugging in the values to this equation, we get:

115.59958278213516 - 1.59799105811.5979910581
×
100
=
7,134%

Politics and news often influence economic performance. Here's what was happening at the time:

• A dog named Chernushka, frogs, and a guinea pig orbit the Earth in the Soviet flight Sputnik 9.
• Nelson Mandela is acquitted of treason after a four-and-a-half year trial.

### Data Source & Citation

You may use the following MLA citation for this page: “South Korea Inflation Calculator: World Bank data, 1961-2020 (KRW).” Official Inflation Data, Alioth Finance, 3 Apr. 2020, https://www.officialdata.org/south-korea/inflation.