South Korea: Sugar and salt prices rise to the highest level in one year

Published 2023년 10월 11일

Tridge summary

Last month, the inflation rate for sugar and salt reached the highest level in a year, with sugar prices rising by 16.9% and salt prices increasing by 17.3%. The rise in sugar prices is attributed to poor sugarcane crops due to abnormal weather conditions, while the increase in salt prices is due to a decrease in production and increased demand. These price increases raise concerns about a further rise in food prices, as sugar and salt are widely used in processed foods.

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

Original content

Last month, the inflation rate for sugar and salt reached the highest level in a year. According to data from the National Statistical Office, the consumer price index for sugar last month was 141.58, up 16.9% from the same month last year. This is the highest in one year since September of last year (20.7%). Salt prices also reached record levels. The salt price inflation rate last month was 17.3%, the highest in a year and a month since August of last year (20.9%). The photo shows the sugar counter at a large supermarket in Seoul on the 11th. yunhap news ☞Subscribe to the Hankyoreh newsletter H:730. Type ‘Hankyoreh h730’ in the search bar. Last month, sugar and salt inflation rates hit their highest simultaneous levels in a year. As prices continue to soar, there are concerns about a further rise in food prices due to the rising prices of sugar and salt, which are widely used in processed foods. According to Statistics Korea's consumer price index on the 11th, the price of ...

Source: Hani