Ham 37%·Bottled Water 17%·Milk 14% Increase
"Upward Trend to Continue Due to Worsening International Situation"
Among 32 processed food items frequently sought by consumers, prices of 24 items, excluding 8, have risen significantly. It is analyzed that many consumers are feeling the burden of high prices on their grocery bills.
According to the Korea Consumer Agency's comprehensive price information portal 'Chamgagyeok' on the 7th, as of last month, among the 32 processed food items most frequently purchased by consumers, 13 items?more than half?recorded double-digit price increases compared to a year ago. Prices of a total of 24 items showed an upward trend, with an average increase rate of 15.3% for those items.
Price increases were particularly notable in seasonings and sauces commonly used in cooking. The price of ham per 10g rose by 37.7% compared to October last year, marking the highest increase rate, followed by ketchup (100g·36.5%), doenjang (fermented soybean paste) (100g·29.6%), soy sauce (100㎖·28.6%), sesame oil (10㎖·27.8%), curry powder (10g·25.4%), and mayonnaise (100g·24.1%), all showing significant price hikes.
Additionally, essential food items such as bottled water (100㎖·16.9%), milk (100㎖·13.8%), and sugar (100g·11.3%) exhibited high price increases around 15%. Even considering that retail prices may fluctuate depending on discount events by distribution companies, the rise represents a considerable burden on household expenses.
Due to the recent deterioration of international situations such as the Israel-Hamas conflict, the upward trend in grain and oil prices is expected to continue, leading to sustained increases in processed food prices. Already, last month, prices of 20 out of the 32 high-consumption processed food items rose compared to the previous month. Items such as cooking oil, fish cakes, sesame oil, doenjang, cola, cup rice, and instant rice recorded increases in the range of 3 to 6%.
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