The overall price levels of Korea are in the middle to low range within the Organization for Economic Cooperation and Development, a little higher than Spain but slightly lower than Germany.
If Korea's CPL is 100 and that of a foreign country is 120, the country's prices are about 20 percent more expensive than those of Korea. In June, Germany and Spain had CPLs of 106 and 96, respectively.
Among the countries with lower CPLs than Korea were Greece (88), Portugal (87), Slovenia (86), Estonia (79), Chile (76), Latvia (74), Slovakia (70), Czech Republic (68), Turkey (64) and Hungary (59). Particularly, price levels in Mexico (58) and Poland (55) were barely higher than half of Korea's.
The most expensive country in comparison with Korea in June was Switzerland with a CPL of 171 ? more than 70 percent higher than Korea's. Other countries with higher price levels were Denmark (147), Norway (145), Iceland (142), Australia (133), Israel (133) and the United Kingdom (130).