Over the past five years, while overall consumer prices have risen by about 10%, food prices have increased by more than 20%. The surge in prices for dining out, a lunch menu choice for office workers, has deepened the phenomenon known as 'lunchflation.'
According to the Korean Statistical Information Service (KOSIS) on the 15th, when the consumer price index for the dining-out sector in 2020 was set at 100, the index last month was 124.56, an increase of about 25%. Compared to a 16% rise in the overall consumer price index during the same period, the increase in dining-out prices has been 1.5 times faster.
Among 39 dining-out items, gimbap (38%) and hamburgers (37%) saw the largest increases. Nine items, including tteokbokki, jajangmyeon, sashimi, lunch boxes, ramen, and galbitang, rose by over 30%. Jjamppong, tonkatsu, kalguksu, bibimbap, chicken, and seolleongtang are also nearing a 30% increase.
When adding items that increased by over 20% such as naengmyeon, kimchi stew, soybean paste stew, and pork belly to those that rose by around 30%, the total reaches 30 items. The cost of meals in company cafeterias also rose by 24%. Among the 39 dining-out items, only four, including soju, had a lower rate of increase than the overall consumer price index.
Compared to a 22% increase in food materials such as agricultural and fishery products over the past five years, the rise in dining-out prices is even steeper. During the same period, processed foods increased by 24%.
The sharp rise in dining-out prices over the past five years is primarily attributed to the soaring costs of food materials and labor. In particular, climate change has increased the volatility of materials and supplies, and with the rise in exchange rates, import prices have surged, with livestock and fishery products increasing by around 20%. Processed foods like flour, cheese, and sugar have also risen significantly.
Due to the strengthening of the dollar and the political uncertainty that has persisted since last year's martial law, the won-to-dollar exchange rate shot up to the 1,480 won range but has recently fallen back to the low 1,300 won range.