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Korea consumer agency data show 24 of 26 processed foods cost more than a year ago
Version 2: Additional outlets have now covered the same August price data, adding a central bank outlook on October inflation and a slightly different figure for the month-on-month fall in cooking oil prices.
In short
August price data from the Korea Consumer Agency’s “Chamgagyeok” portal show 24 of 26 high-consumption processed food items cost more than in the same month last year, led by instant soups and stews at 39.2% and cup rice at 24.9%. Soybean paste, cola and noodles also rose by double digits, though the agency changed its product sample in January and same-product comparisons lower some gains. Six of the 10 items under intensive government price management were cheaper than a year earlier, with flour down 13.1% for an 11th straight month.
Why it matters
The data describe a split grocery basket: convenience and processed foods are getting more expensive while several basic staples are getting cheaper, which shapes how households experience food inflation. The documents report no government policy response, and Dong-A Ilbo says food makers began passing increases to shelves from June, suggesting the pressure reported for August worked through retail channels. The Bank of Korea’s October inflation outlook indicates the broader price trend is expected to stay elevated.
Key facts
- Of 26 high-consumption processed food items tracked by the Korea Consumer Agency, 24 were more expensive in August than a year earlier, according to the agency’s “Chamgagyeok” price portal. [ 1 , 2 , 4 , 5 ]
- Instant soups and stews posted the largest year-on-year rise at 39.2%, followed by cup rice at 24.9%, gochujang at 19.8%, soybean paste at 19.1%, cola at 16.8% and noodles at 16.1%. [ 1 , 2 , 4 , 5 ]
- The agency revised its product sample in January; on a same-product basis the rise for instant soups and stews falls to 15.7% and for gochujang to 4.2%. [ 2 , 5 ]
- Month on month in August, instant rice rose 5.7%, cola 6.7%, ketchup 4.3%, curry 4.1% and canned tuna 3.9%. [ 2 , 4 , 5 ]
- Instant rice’s monthly rise was led by “Hatban 210g”, up 6.6%, and “Hatban” six-packs, up 10.3%, and the agency said marts and convenience stores raised prices after manufacturers announced increases. [ 2 , 5 ]
- Six of the 10 items under intensive government price management fell year on year, with flour down 13.1% — an 11th consecutive monthly decline since September last year. [ 2 , 4 , 5 ]
- Eggs rose 8.2%, rice 8.5% and toilet paper 16.8% from a year earlier. [ 2 , 5 ]
- Dong-A Ilbo reported that food companies raised prices across major products from June, after the local elections, citing higher raw material costs linked to the Middle East war. [ 4 ]
Confirmed by several sources
- August data from the Korea Consumer Agency’s “Chamgagyeok” portal show 24 of 26 high-consumption processed food items cost more than in the same month a year earlier. [ 1 , 2 , 4 , 5 ]
- Instant soups and stews had the highest year-on-year increase at 39.2%, followed by cup rice at 24.9%, gochujang at 19.8%, soybean paste at 19.1%, cola at 16.8% and noodles at 16.1%. [ 1 , 2 , 4 , 5 ]
- The agency changed its product sample in January, and comparing identical products lowers the measured rise for instant soups and stews to 15.7% and for gochujang to 4.2%. [ 2 , 5 ]
- Among the 10 items under intensive government price management, six were cheaper than a year earlier, with flour down 13.1% after 11 consecutive months of decline since September last year. [ 2 , 4 , 5 ]
- Month-on-month August increases included cola at 6.7%, instant rice at 5.7%, ketchup at 4.3%, curry at 4.1% and canned tuna at 3.9%. [ 2 , 4 , 5 ]
- The Korea Consumer Agency attributed the instant rice increase to manufacturers announcing price rises that large marts and convenience stores then applied. [ 2 , 5 ]
- Eggs rose 8.2%, rice 8.5% and toilet paper 16.8% year on year. [ 2 , 5 ]
Still unclear
- The size of the month-on-month fall in cooking oil prices in August Maeil Business reports a 17.0% decline and Asia Economy a 17.9% decline in the same month, though both link it to supermarket discounts of about 50% on some grape seed and canola oil products.
- Why food companies raised prices from June Only Dong-A Ilbo gives a reason, citing raw material costs linked to the Middle East war; the other documents do not discuss causes.
- Whether the August price levels persisted afterwards, or how retailers responded The documents cover August data only and give no information on later months.
- Individual product movements such as Pepsi cola up 7.6% and Coca-Cola up 5.8% month on month Only Maeil Business reports these figures.
- The Bank of Korea’s October inflation outlook of around 3% and Deputy Governor Lee Ji-ho’s comments Only Asia Economy reports the outlook and the quotation.
What local media are saying
Business mediaAll six documents are business outlets reporting the same official price data from the Korea Consumer Agency, leading with the steepest increases — instant soups and stews, cup rice and soybean paste — and framing them around the burden on household food budgets. Maeil Business carries the most detail, including the sample-adjustment caveat, month-on-month moves, individual product figures and the discounts behind falling cooking oil prices; Asia Economy repeats much of that and adds the Bank of Korea’s October inflation outlook; Dong-A Ilbo adds that food makers raised prices from June citing raw material costs; Chosun Ilbo, Kukmin Ilbo and Seoul Shinmun give the headline figures with little or no body text.
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Timeline, local time
- Chosun Ilbo publishes the August price data, reporting that 24 of 26 high-consumption processed foods rose year on year and noting the gochujang sample change. [ 1 ]
- Maeil Business publishes a fuller account, adding same-product comparisons, month-on-month increases, individual product figures and the cooking oil discount effect. [ 2 ]
- Kukmin Ilbo runs a photo item headlined that instant soups and stews and cup rice all rose. [ 3 ]
- Dong-A Ilbo reports the same figures, noting that six of 10 closely managed items fell and that food companies began raising prices in June. [ 4 ]
- Asia Economy reports the figures and adds the Bank of Korea’s forecast that October consumer inflation will stay around 3%. [ 5 ]
- Seoul Shinmun publishes a headline-only item noting 24 of 26 processed foods rose. [ 6 ]