The Korea Herald

피터빈트

Cost of food, services rose sharply last quarter

By Korea Herald

Published : Jan. 2, 2012 - 16:23

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Daily expenses rose in 2011’s last quarter, increasing the strain on those already struggling with the high cost of living here, officials said Monday.

According to research by Statistics Korea and the Ministry of Public Administration and Security, North Chungcheong Province saw a particularly high average rise of 5.2 percent in the cost of the popular Korean meal of kimchi jjigae between September and December.

The dish saw similar price rises throughout the country with prices in Ulsan rising 3.9 percent on average, Gangwon Province 3 percent, Busan 2.7 percent and Gyeonggi Province 2.3 percent during the same period. Overall, the nation’s average price for the lunch staple rose by 1.2 percent to 5,403 won ($4.67), reflecting the rising prices of ingredients used to make kimchi.

The trend was reflected in other dishes.

Bibimbap, a rice dish mixed with vegetables and meat, saw a 1 percent rise to 5,815 won. Jajangmyeon, a popular Chinese dish of noodles in black bean paste, saw a minimal rise of 0.3 percent to 4,078 won.

Price increases were also seen in services, with the cost of dry-cleaning a suit rising 1.5 percent. However, areas like Daegu and Incheon saw rises as high as 5.6 percent and 5.9 percent, respectively.

Average prices for other services rose: Fees for bathhouses and motels rose 1.5 percent and 1.3 percent, respectively.

Although Seoul’s subway has not seen a rise in fares since 2007, the Busan Transportation Corp. raised its rates during the quarter by 11.1 percent to 1,100 won. Bus fares in Incheon and Gyeonggi Province were also raised the same percentage to 1,000 won.

The year’s average general inflation was 4 percent.

By Robert Lee (robert@heraldcorp.com)