China News Service, November 7th. According to Korean media reports on the 7th, the prices of processed foods and other vegetable baskets in South Korea rose sharply year-on-year in October. Among them, the price of instant noodles increased significantly, the highest value in 12 years and 8 months.
According to statistics released on the 7th by the Korean National Statistical Information Service (KOSIS), the consumer price index (CPI) for processed foods in October increased by 3.1% year-on-year to 109.89, which is the highest number since November 2014 (3.3%). The biggest increase in the month.
Specifically, affected by the increase in flour prices, the price of instant noodles rose 11% year-on-year, the largest increase since February 2009 (14.3%).
In addition to instant noodles, the prices of noodles (19.4%), biscuits (6.5%), pasta (6.4%), bread (6%), puffed food (1.9%) and other products have also risen sharply.
In addition, the price of salt rose by 23.9% year-on-year, the largest increase among processed foods.
Korean traditional rice wine Makgeolli increased by 17.5% year-on-year, salad dressing and cooking oil increased by 14.3% and 12.3%.
Not long ago, the "October Consumer Price Trends" released by the Korea Statistics Agency showed that in October, Korean consumer prices rose 3.2% from the same month in 2020, setting a record for 9 years and 9 months since January 2012.
In terms of types, prices of petroleum, eggs, pork and other agricultural, livestock and aquatic products have also been rising.
The price of a full-rental house deposit was the highest increase since November 2017.
According to South Korea’s "Joongang Ilbo", prices are expected to be difficult to stabilize in a short period of time.
In addition, South Korea will resume daily routines in phases starting from November, and increasing demand for going out is expected to further increase prices.