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

South Korea

Published Sep 19, 2021

Tridge summary

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.

Original content

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 4th (6.5%) ΔDec 4th (6.2%) ΔNov 3rd (6.9%) ΔOctober 2nd (8.2%) ΔSeptember 2nd (8.3%) ΔAugust 4th (6.6) %), etc., every month, in the top five. Main article “I hope it’s not the last birthday party”… Hospital-to-home ‘rehabilitation struggle’ “What if I catch Corona?” To take care of our anxious children, ‘mental health’ Although the rate of increase has been decreasing recently, it is undoubtedly still a high rate of increase. The rise in food prices was not so great in July of last year. Domestic food prices rose 2.4%, 3.3%, and 4.3%, respectively, from May to July last year, ranking 19th, 13th, and 8th in the OECD. Even if we look at it by quarter, it was ranked 26th (1.7%) in the first quarter of last year and 26th (2.5%) in the second quarter of last year, falling in the ...

Source: Donga