Liquor prices in the country rose at the steepest pace in more than two decades last year.

According to Statistics Korea on Sunday, the country's liquor prices gained five-point-seven percent on-year in 2022, the largest on-year growth since 1998, when it soared eleven-point-five percent.

The price of soju, a popular Korean distilled liquor, rose seven-point-eight percent last year, the largest gain since the growth of seven-point-eight percent logged in 2013.

Beer prices increased five-point-five percent in 2022, the largest growth since 2017 when they rose six-point-two percent.

The price hikes are attributed to the increase in the price of ingredients and raw materials.

Prices of other liquor products also rose last year, with the prices of imported liquor products rising four-point-two percent and those of makgeolli, or the Korean traditional rice wine, jumping seven-point-two percent.