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The Bank of Korea has predicted that prices will rise sharply from this month on, centering on food and dining expenses.
In particular, there was also added concern that the cost of eating out does not come down easily once it jumps, so the burden on the low-income class will increase.
Reporter Kim Bum-joo reports.
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The Bank of Korea has predicted that inflation will increase significantly in the second half of this year, centering on the cost of processed food and dining out.
The Bank of Korea publishes a report to check the price situation twice a year.
The price of processed food has already risen 4.8% by May, and the price of eating out has also risen 6.8% over 10 months, it is analyzed that it has surpassed the level in 2011, the most recent price jump.
In addition, it is predicted that domestic prices may not be stable until next year as the crop conditions in the major grain producing regions such as the United States and South America overlap with the adverse weather conditions.
[Lee Chang-yong / Governor of the Bank of Korea: The market's opinion is that the inflation rate will peak or not reach a peak in the third quarter or so, but uncertainty is still high due to the state of war and other factors.
] Processed food prices do not go down once they rise, so there were concerns that the burden on low-income households with relatively large related expenditures could increase.
The Bank of Korea repeatedly stated that it would raise interest rates for the time being to catch inflation, estimating that the overall consumer price index could rise to more than 4.7% in 2008.