Food prices rose by more than 20% over five years, analysis showed.
According to the National Data Agency on the 8th, last month's consumer price index for "food and nonalcoholic beverages" rose 22.9% compared with September 2020. The figure is nearly 7 percentage points higher than the overall consumer price index increase (16.2%) over the same period.
Fruit (35.2%) and milk, cheese and eggs (30.7%) jumped more than 30% compared with five years ago. Bread (38.5%), cake (31.7%), tteok (25.8%), and ramen (25.3%) rose sharply, driving bread and cereals (28.0%) significantly higher as well. Confectionery, ice cream and sugars also rose 27.8%.
Other food products including red pepper powder and sesame (21.4%), meat (21.1%), and fish and seafood (20.0%) were slightly below the average for food but still exceeded 20%. Among nonalcoholic beverages, coffee, tea and cocoa surged 38.2%, and bottled water, soft drinks, fruit juice and vegetable juice rose 22.7%. Alcoholic beverages and tobacco increased 5.0%, but alcoholic beverages alone were 13.1%.
By year, prices for food and nonalcoholic beverages continued to rise at elevated levels: 4.4% in 2020, 5.9% in 2021, 5.9% in 2022, 5.5% in 2023, and 3.9% in 2024.
Over the same period, the overall consumer price inflation rates were 0.5% in 2020, 2.5% in 2021, 5.1% in 2022, 3.6% in 2023, and 2.3% in 2024.
Over the past five years, prices for items closely tied to daily life also rose significantly. "Food and accommodation" saw the largest increase at 24.8%, and within that, "food services," meaning dining-out expense, was higher at 25.1%. The rise appears to reflect the increase in prices of materials and supplies such as foodstuffs.
"Other goods and services," which include soap, shampoo and beauty products, rose 24.1%. Prices for "household goods and services," which include essentials such as detergents and cleaning supplies and household services such as laundry and cleaning, increased 19.4%.
Prices for "dwellings, water, electricity and fuels," which include housing costs such as monthly and jeonse rents and various public charges, rose 16.7%, and "clothing and footwear" rose 16.2%, both roughly in line with the average increase.
However, "transport" prices, which include fuel expense, vehicle maintenance expense, and public transportation fares, were 15.9%, below the average. Recreation and culture (9.5%), education (8.8%), and health (6.2%) posted smaller increases, and communication charges fell 0.2%.