South Korea: Cost of living

The cost of living index is a broad measure of the prices paid by households and non-profit organizations that provide services to households in South Korea and other countries. The index incorporates all goods and services in the typical household consumption basket in individual countries with appropriate weights. It is designed to allow comparison across countries. The data are from the World Bank International Comparison Program which updates the price information every few years. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: The cost of living index summarizes the level of prices paid by households and non-profit organizations that provide services to households. It incorporates all goods and services in the average consumption basket with appropriate weights. The data are from the World Bank International Comparison Program.