Mom and Dad's Backs Hurt... Soaring Prices of 'Infant Products'

Price Increases in Infant Formula, Children's Shoes, and Early Learning Materials
Children's Clothing Up 12.1%... Calls for Monitoring Raised

Since the beginning of this year, the price increases of most childcare products such as formula, diapers, and children's clothing have significantly exceeded the overall consumer price average.

According to the National Statistical Portal of Statistics Korea on the 13th, among the 11 products and services mainly consumed by households with infants and young children, the price increase rates for six items from January to October this year exceeded the overall average (3.7%).

The 11 items are ▲formula ▲baby food ▲children's clothing ▲educational materials for infants ▲children's shoes ▲disposable diapers ▲toys ▲strollers ▲kindergarten fees ▲childcare facility fees ▲postpartum care center fees. Excluding kindergarten fees and childcare facility fees, which are supported by the government and local governments, two-thirds of the childcare products surveyed have price increases exceeding the overall inflation rate. Since these products and services are essential for households with young children, concerns are rising that the burden of childcare costs on these families is increasing.

As of October this year, the price of children's clothing rose by 12.1% compared to the same period last year, marking the largest increase. This is the highest rate since 1985.

During the same period, diaper prices also rose by 9.6%, approaching 10%. This is the highest since the 10.6% recorded during the 1998 foreign exchange crisis.

Last year, diaper prices increased by 3.0% compared to the previous year, but this year they have shown a high monthly increase rate of around 8-10% compared to the same month of the previous year. Formula prices also rose by 6.3% compared to the same period last year.

Looking at the detailed inflation rates, they were ▲children's clothing (12.1%) ▲educational materials for infants (7.5%) ▲disposable diapers (9.6%) ▲formula (6.3%) ▲children's shoes (6.3%) ▲postpartum care center fees (5.2%) ▲strollers (3.0%) ▲toys (1.6%). The government-supported ▲kindergarten fees (-10.1%) ▲childcare facility fees (-1.5%), and ▲baby food (0.2%) were not included in the inflation rate. The total index is 3.7%.

Since childcare products and services are close to necessities for households with infants and young children, price increases directly translate into a higher childcare cost burden. However, except for kindergarten and childcare facility costs, most childcare product and service prices are not separately monitored, leading to calls for government attention as part of low birthrate countermeasures.

The National Institute of Childcare Policy, a government research institute, developed and has been publishing a childcare price index recalculated with weights centered on childcare households for the 11 childcare products since 2013, but this has been discontinued since 2020 due to budget cuts.