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S. Korea's Food Price Inflation 4th Highest among OECD Members in January

Written: 2021-03-08 09:56:37Updated: 2021-03-08 10:22:07

S. Korea's Food Price Inflation 4th Highest among OECD Members in January

Photo : YONHAP News

South Korea ranked fourth among the world's major advanced countries in terms of food price inflation in January. 

According to Statistics Korea and the Organization for Economic Cooperation and Development(OECD) on Monday, the country's food prices rose six-point-five percent in January from a year earlier. 

This is more than twice the OECD average of three-point-one percent. The figure is fourth highest among 37 OECD members, after Turkey with 18-point-one percent, Chile and Iceland. 

South Korea's food price inflation was even higher in February at nine-point-seven percent, the highest since August 2011 when it marked eleven-point-two percent. 

The sharp rises are attributed to jumps in agricultural and livestock prices due to the outbreak of avian influenza and increased demand around the Lunar New Year holiday.

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