Overview
Survey Name
- Consumer Price Survey (Index)
Survey Type
- Survey Statistics
Type of Statistics
- Designated Survey (Approval No. 101007)
Purpose
- An index to measure the average price of goods and services. The index is used as base data for fiscal and financial policies of the government and as a deflator of major economic indicators such as household economic index and national income accounts.
Frequency
- Monthly
Target Population
- Representative Items: 458 consumer items purchased by households for their daily living
- Surveyed cities: 40 major cities nationwide
- Subjects: Approximately 26,000 stores of retailers and service providers; approximately 11,000 tenant households
Survey Unit and Target Population Size
- Survey unit: businesses (stores of retailors and service providers), households (rent)
- Target population size: Approximately 26,000 stores of retailers and service providers; approximately 11,000 tenant households
Survey Reference Period and Date
- Agricultural, fishery and livestock products, oils: 3 times a month (weekdays in the first, middle, last part of each month); industrial products: once a month (middle part of a month)
- Electricity, gas, water: once a month (last part of a month); service: once a month (last part of a month), rent: once a month (first part of a month)
History
- 1936: The first Consumer Price Survey was compiled by Gyeongseong Chamber of Commerce and Industry
- Aug. 1945: The of Joseon, the predecessor of the Bank of Korea compiled the Survey.
- 1947: Based on the prices of both 1936 and August 1945, the Seoul Retail Price Index was compiled and released.
- April 1949: Weights by item were introduced for the first time.
- 1955: Service charges included in the Index .
- 1965: The National Bureau of Statistics, Economic Planning Board started to compile the Consumer Price Index of all the Cities instead of the Bank of Korea.
- Dec. 1990: The National Bureau of Statistics, Economic Planning Board was upgraded to the Statistics Korea, an organization to compile and release the Consumer Price Index.
- 1992: From the Index in 1990, the Consumer Price Index was produced and released in 4 special categories as well as 3 basic categories.
- 1997: From the Index in 1995, the Index included owner-occupied housing as a supplementary index.
- Feb. 2000: CPI excluding agricultural products and oils was compiled.
- Dec. 2006: The basic classification standard restructured to COICOP, an international classification standard, in the index in 2005; 489 items were covered in the survey.
- Nov. 2011: The basic classification system for 2010 base index restructured based on Korea COICOP; electricity, water, gas classified separately under Classification by Commodities & Services; Weight population expanded from urban households of one or more to nationwide households of one or more (excluding agricultural and fishery households); index compiled excluding food and energy (OECD method); 481 items were covered in the survey.
- Dec. 2013: To better reflect the reality, the CPI adopted shortened weight revision cycle (2~3 years).
- Dec. 2016: Announced the index with the base year of 2015 by revising survey items and weights (2015 = 100)
- Dec. 2018: Changed the weights base year from 2015 to 2017
- Dec. 2021: Announced the index with the base year of 2020 by revising survey items and weights (2020 = 100).
Data Provision
Method of Publication and URL
- Press releases, KOSIS data (https://kosis.kr)
Publication Frequency
- Monthly
Publication Title
- Monthly Consumer Price Index, Annual Report on the CPI
