A popular indicator used to gauge standard of living fell to a record low in South Korea last year.

According to Statistics Korea data on Saturday, an average South Korean household spent a monthly 349-thousand won, around 310 dollars, on groceries and nonalcoholic beverages in 2016.

With monthly average spending at two-and-a-half million won, the Engel's coefficient recorded 13-point-seven percent, the lowest since data began to be compiled in 2003.

The Engel's coefficient is the proportion of money spent on food in household expenses.

A Statistics Korea official explained a major factor in the index falling was less spending on grains, such as rice, due to lower prices and reduced consumption. The official also said more Korean families are eating out instead of cooking meals.

However, the situation differed by income level. For the bottom 20 percent income bracket, the coefficient was 20-point-four percent, nearly seven percentage points higher than the national average.

This means a fifth of their monthly expenditure still goes into buying groceries.