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Prices in Entertainment & Culture Rise by Highest Margin in 14 Years

Written: 2023-03-14 11:48:10Updated: 2023-03-14 13:45:35

Prices in Entertainment & Culture Rise by Highest Margin in 14 Years

Photo : YONHAP News

Prices of entertainment and cultural services jumped by the highest margin in 14 years last month in the wake of increases in post-pandemic travel and the use of over-the-top(OTT) services.

According to Statistics Korea on Tuesday, the entertainment and culture price index rose four-point-three percent from a year earlier to 105-point-86 in February, the largest on-year increase since jumping four-point-six percent in December 2008.

The post-pandemic resumption of group tours led the price increases, with the cost of overseas group travel surging 13-point-three percent last month, while the domestic group travel rates rose four-point-one percent.

Fees to access online content on OTT platforms, such as Netflix, Watcha and Wavve, as well as game portals increased three-point-one percent from a year earlier.

Prices also increased for hiking and camping-related products, as well as sports equipment.

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