The consumer price index (CPI) in November 2025 rose by 2.4% year-on-year (2.4% in October), driven by base effects from last year, wider price increases in agricultural, livestock, fishery, and petroleum products due to adverse weather and a higher exchange rate, and a continued high increase in processed food prices following concentrated price hikes in the first half of the year.
Core inflation, which reflects the underlying trend by excluding volatile food and energy prices, increased by 2.0% year-on-year (2.2% in October). The CPI for living necessities, which tracks items with a high share of household spending, climbed by 2.9% year-on-year (2.5% in October).
Consumer Price Index
|
(%) |
2024 |
2025 |
|
Nov |
Dec |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
|
y-o-y |
1.5 |
1.9 |
2.2 |
2.0 |
2.1 |
2.1 |
1.9 |
2.2 |
2.1 |
1.7 |
2.1 |
2.4 |
2.4 |
|
m-o-m |
-0.3 |
0.4 |
0.7 |
0.3 |
0.2 |
0.1 |
-0.1 |
0.0 |
0.2 |
-0.1 |
0.5 |
0.3 |
-0.2 |
Core Inflation
|
(y-o-y, %) |
2024 |
2025 |
|
Nov |
Dec |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
|
CPI excluding food and energy prices |
1.9 |
1.8 |
1.9 |
1.8 |
1.9 |
2.1 |
2.0 |
2.0 |
2.0 |
1.3 |
2.0 |
2.2 |
2.0 |
|
CPI excluding agricultural product and petroleum prices |
1.8 |
1.8 |
2.0 |
1.9 |
2.1 |
2.4 |
2.3 |
2.4 |
2.3 |
1.9 |
2.4 |
2.5 |
2.3 |
CPI for living necessities
|
(y-o-y, %) |
2024 |
2025 |
|
Nov |
Dec |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
|
CPI for living necessities |
1.6 |
2.2 |
2.5 |
2.6 |
2.4 |
2.4 |
2.3 |
2.5 |
2.5 |
1.5 |
2.5 |
2.5 |
2.9 |
Given the uncertainties ahead, including weather conditions, the government will make every effort to stabilize perceived inflation with a heightened sense of vigilance. In particular, it will closely monitor prices as well as demand and supply conditions of key items closely linked to people’s daily lives, such as food and petroleum products, and respond promptly to any emerging factors driving volatility.
Please refer to the attached files.
