South Korea Inflation Calculator

Result: ₩5,500,000 in 2020 → ₩4,941,749.80 in 2011


Value of ₩5,500,000 from 2020 to 2011

₩5,500,000 in 2020 is equivalent in purchasing power to about ₩4,941,749.80 in 2011, an increase of ₩-558,250.20 over 9 years. The won had an average inflation rate of 1.20% per year between 2011 and 2020, producing a cumulative price increase of -10.15%.

This means that prices in 2011 are 10.15% lower than average prices since 2020, according to the OECD and the World Bank consumer price index for South Korea.

The inflation rate in 2011 was 4.03%. The inflation rate in 2020 was 0.54%. The 2020 inflation rate is lower compared to the average inflation rate of 3.48% per year between 2020 and 2024.


Inflation from 2020 to 2011
Cumulative price change-10.15%
Average inflation rate1.20%
Converted amount
₩5,500,000 base
₩4,941,749.80
Price difference
₩5,500,000 base
₩-558,250.20
CPI in 2020105.418
CPI in 201194.718
Inflation in 20114.03%
Inflation in 20200.54%
₩5,500,000 in 2020₩4,941,749.80 in 2011

KRW inflation since 2011
Annual Rate, the OECD and the World Bank CPI
Download

Buying power of ₩5,500,000 in 2011

This chart shows a calculation of buying power equivalence for ₩5,500,000 in 2011 (price index tracking began in 1951).

For example, if you started with ₩5,500,000, you would need to end with ₩4,941,749.80 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When ₩5,500,000 is equivalent to ₩4,941,749.80 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 2011 dollars, the chart below shows how ₩5,500,000 is worth less over 9 years.

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

Won inflation: 2011-2020
YearWon ValueInflation Rate
2011₩5,500,000.004.03%
2012₩5,620,288.812.19%
2013₩5,693,428.111.30%
2014₩5,766,006.471.27%
2015₩5,806,733.740.71%
2016₩5,863,157.770.97%
2017₩5,977,155.571.94%
2018₩6,065,371.471.48%
2019₩6,088,598.400.38%
2020₩6,121,313.540.54%
2021₩6,274,245.492.50%
2022₩6,593,470.685.09%
2023₩6,866,480.074.14%
2024₩7,018,003.942.21%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 3 more rows

This conversion table shows various other 2011 amounts in 2020 won, based on the -10.15% change in prices:

Conversion: 2011 won in 2020
Initial valueEquivalent value
₩1 won in 2011₩1.11 won in 2020
₩5 won in 2011₩5.56 won in 2020
₩10 won in 2011₩11.13 won in 2020
₩50 won in 2011₩55.65 won in 2020
₩100 won in 2011₩111.30 won in 2020
₩500 won in 2011₩556.48 won in 2020
₩1,000 won in 2011₩1,112.97 won in 2020
₩5,000 won in 2011₩5,564.83 won in 2020
₩10,000 won in 2011₩11,129.66 won in 2020
₩50,000 won in 2011₩55,648.30 won in 2020
₩100,000 won in 2011₩111,296.61 won in 2020
₩500,000 won in 2011₩556,483.05 won in 2020
₩1,000,000 won in 2011₩1,112,966.10 won in 2020

How to calculate inflation rate for ₩5,500,000, 2011 to 2020

Our calculations use the following inflation rate formula to calculate the change in value between 2011 and 2020:

CPI in 2011 CPI in 2020
×
2020 KRW value
=
2011 KRW value

Then plug in historical CPI values. The South Korean CPI was 105.4175 in the year 2020 and 94.71762 in 2011:

94.71762105.4175
×
₩5,500,000
=
₩4,941,749.80

₩5,500,000 in 2020 has the same "purchasing power" or "buying power" as ₩4,941,749.80 in 2011.

To get the total inflation rate for the 9 years between 2011 and 2020, we use the following formula:

CPI in 2011 - CPI in 2020CPI in 2020
×
100
=
Cumulative inflation rate (9 years)

Plugging in the values to this equation, we get:

94.71762 - 105.4175105.4175
×
100
=
-10%

Data source & citation

You may use the following MLA citation for this page: “₩5,500,000 in 2020 → 2011 | South Korea Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/south-korea/inflation/2020?endYear=2011&amount=5500000.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 2020 to 2011
Cumulative price change-10.15%
Average inflation rate1.20%
Converted amount
₩5,500,000 base
₩4,941,749.80
Price difference
₩5,500,000 base
₩-558,250.20
CPI in 2020105.418
CPI in 201194.718
Inflation in 20114.03%
Inflation in 20200.54%
₩5,500,000 in 2020₩4,941,749.80 in 2011