South Korean processed food prices rise, led by cup rice and instant rice

Prices for various processed food items in South Korea have seen significant increases, according to data from the Korea Consumer Agency’s price information portal, ‘Price Information’. In August, 24 out of 26 frequently consumed processed food items showed higher prices compared to the same month last year.

Notable increases include cup rice, which rose 24.9% year-on-year, and instant rice, which saw a 5.7% increase in just one month. Specifically, Hetbahn 210g single units rose by 6.6%, while 6-pack bundles increased by 10.3%. Other items with double-digit annual increases include soybean paste (19.1%), cola (16.8%), and noodles (16.1%).

While many prices rose following manufacturer announcements, some items experienced declines. Flour prices fell by 13.1%, marking 11 consecutive months of decrease. Other declining items included cooking oil, sugar, coffee mix, milk, and bread. Conversely, prices for rice, eggs, and toilet paper also trended upward.