- The first Consumer Price Survey was compiled by Gyeongseong Chamber of Commerce and Industry in 1936. From late Aug. 1945, the Bank of Joseon, the predecessor of the Bank of Korea compiled the Survey Instead. In 1947, based on the prices of both 1936 and August 1945, the Seoul Retail Price Index was compiled and released.
- The Whole Country Retail Price Index compiled with the base year 1947 was released in April 1949, when weights by item were introduced for the first time. Those days the prices of commodities were collected only. Since 1955 service charges have been included in the Index
- In 1965, the National Bureau of Statistics, Economic Planning Board started to compile Consumer Price Index of all the Cities instead of the Bank of Korea. In December 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.
- From the Index in 1990, the Consumer Price Index was produced and released in 4 categories, such as basic categories and 3 special categories of the CPI by Commodity Property, by Fresh Food and by Purchasing Frequency. From the Index in 1995, the Index included owner-occupied housing as a supplementary index. From February 2000, by excluding price fluctuations due to temporary external impact on agricultural products sensitive to climate changes and petroleum to depend on imports, a sub-index was compiled and utilized in establishing price policies.
- On the other hand, the index was revised every five years to reflect the changes in consumption structure of urban households. In January 2002, the results of revised index as of 2000 were released. In April 2003, the nationwide chain Index as of 2002 as supplementary index was compiled and released.
- The indexes have been revised on a 5-year basis to reflect the changes in consumption structure of urban households. In Dec. 2006, the results of revised indexes were released with 2005 prices based.