FX.co ★ South Korea’s August Inflation Edges Up to 3.1% Year-on-Year, Topping July’s 2.8%

South Korea’s consumer price inflation accelerated in August 2026, with the Consumer Price Index (CPI) rising 3.1% year-on-year, up from 2.8% in July 2026. The latest data, updated on 1 September 2026, show that price pressures have strengthened compared with the previous month on a year-over-year basis.

The figures mean that both July and August readings are measured against the same months a year earlier, underscoring a clear pickup in annual inflation momentum heading into late summer. While July’s 2.8% gain already signaled persistent price growth, August’s 3.1% outcome highlights that inflationary forces have not yet fully eased in Asia’s fourth-largest economy.

The year-over-year comparison framework indicates that August’s increase reflects faster price growth than in August of the prior year, while July’s reading did the same against its year-earlier base. The move from 2.8% to 3.1% will likely refocus market attention on the future path of inflation and its potential implications for South Korea’s broader economic outlook.