April 19, 2024
Retail & Consumer
[GRAPHIC NEWS] Korea's food prices soar at highest rate
[THE INVESTOR] Food prices in South Korea surged at one of the highest rates among member countries of the Organization for Economic Cooperation and Development, showed recent data.
Driven by a steep rise in egg prices due to a bird flu outbreak and general price hikes of agricultural, farm and marine products, South Korea’s prices for food and non-alcoholic beverage items surged by 5.3 percent in January from a year ago, Statistics Korea said. It is 10 times larger than the OECD average of 0.4 percent.
It comes third after Turkey’s 7.8 percent and Latvia’s 6.2 percent.
On the other hand, South Korea’s consumer price rate hike for January was 2 percent, lower than the OECD average of 2.3 percent.
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