South Korea's food price marches to the top of the OECD

Published 2021년 9월 18일

Tridge summary

South Korea is experiencing its highest food price inflation since 2020, with a 5.6% increase in August compared to the previous year, making it the third highest in the OECD behind Colombia and Mexico. This inflation, attributed to adverse weather conditions and the spread of avian influenza, has led to a significant burden on the population, with the government criticized for its response. However, prices of 17 holy items, including rice, are beginning to stabilize ahead of the Chuseok holiday. The article also discusses other unrelated topics such as political figures and a woman who miraculously survived a heart attack.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

2021.9.16/News1It is the first year since Korea's food price inflation has risen to the top of the Organization for Economic Development and Cooperation (OECD). The government's response at the beginning of this year was not good, along with multiple adverse events such as the longest rainy season in history last year and the spread of avian influenza (AI). According to the National Statistical Office and the OECD on the 18th, food and non-alcoholic beverage (food) prices in Korea rose 5.6% in August compared to the same period last year. It is the third highest among the 30 OECD countries where monthly food price increases have been recorded so far, after Colombia (11.5%) and Mexico (7.9%). Korea's food price inflation rate began to rank among the top 5 in the OECD in August last year. Specifically, Δ4th place in July (6.4%) Δ4th place in June (6.5%) Δ3rd place in May (7.4%) ΔApril 2nd place (8.1%) ΔMarch 2nd place (8.4%) ΔFebruary 2nd place (9.7%) %) ΔJanuary ...

Source: Donga