As high inflation persists, disposable lighters sold at convenience stores have joined the price hike trend.
According to the convenience store industry on the 1st, the Ace lighter, the best-selling item in domestic convenience stores, increased its price from 600 won to 700 won starting today. This is the first increase in over three years after raising the price from 500 won to 600 won in 2022.
A convenience store representative noted, "The Ace lighter is the best-selling product among this category due to its low price," adding, "The price has risen this time due to the increase in production costs."
The Ace lighter is a domestic lighter brand manufactured by Ace Industry since 1986. The price, which was 300 won in 1986, increased to 400 won in the early 2000s, and then to 500 won in 2018 and 600 won in 2022.
Additionally, starting today, the prices of major food items sold at convenience stores, including beer, instant noodles, milk, ice cream, and frozen foods, have uniformly risen.
OB increased the price of its Cass canned 355mL product from 2,250 won to 2,500 won, an 11% rise, and the 500mL Cass bottle from 2,400 won to 2,500 won, a 4.1% increase. The 640mL Cass bottle increased from 2,950 won to 3,100 won, a 5% hike. Hanmac’s 355mL product rose from 2,250 won to 2,500 won, an 11% increase, while the Hanmac Q-pack (PET bottle) 1.6L product increased from 7,900 won to 8,300 won, a 5% rise.
OTOKI raised the prices of its 200g 3-minute curry (mild and spicy) and 200g 3-minute beef black bean noodles from 2,200 won to 2,500 won, a 13.6% increase. CJ CheilJedang has raised the convenience store prices of Bibigo steamed dumplings and Wang Gyoza by about 10%.
The price of Namyang Dairy Products' Choco Emong and Strawberry Emong has risen by 200 won to 1,600 won. Lotte Wellfood's Uiseong garlic frankfurter and cheese sticks also increased by 200 won each.
Starting on the 1st, Häagen-Dazs raised the pint price from 15,900 won to 17,900 won, a 12.5% increase. The prices of mini cups, stick bars, and sandwiches increased from 5,900 won to 6,900 won, a 16.9% hike.
According to the industry, the number of food and restaurant companies that started raising prices since the beginning of the year has reached 40. The continued political uncertainty following the emergency state declared in December last year has resulted in the won-dollar exchange rate soaring to around 1,470 won recently, along with rising expenses from materials and supplies, which are cited as causes for the price increases.
Some analysts suggest that corporations are rushing to increase prices taking advantage of the weakened price control capabilities of the government. The inflation rate for processed food compared to the same month last year held steady at the 1% level last year, then jumped to 2.7% in January and 2.9% in February this year.