Seoul, June 15 (IANS) South Korea’s food and drink prices ranked the second highest among the Organization for Economic Cooperation and Development (OECD) member economies, data showed on Sunday.
South Korea’s food and beverage price index stood at 147 in 2023, 47 percent higher than the OECD average, according to the data based on the purchasing power in each country, reports Yonhap news agency.
This reading also marked the second highest among the 38 OECD countries, only trailing Switzerland at 163. The food and beverage price index of the United States stood at 94, with those of Japan and Germany coming to 126 and 107, respectively.
South Korea’s consumer price index came to 116.03 in the first quarter of this year, marking a 16 percent increase over the past five years, according to data from Statistics Korea.
The index for daily necessities — 144 items closely related to people’s everyday lives, such as food, clothing and housing — came to 119.09 in the first quarter, while the index for food prices alone stood at 125.04.
The Seoul government is working to come up with pan-government measures to stabilize consumer prices, with a central focus on the prices of eggs and processed foods, which have seen big price leaps in recent months.
Meanwhile, the season’s first heat wave advisory was issued on Sunday for inland areas of Gyeonggi Province that surround Seoul.
The Korea Meteorological Administration issued the advisory for inland areas of Gyeonggi, including Pocheon, Gapyeong, Paju, Anseong and Yeoju, effective from 9 a.m. A heat wave advisory is issued when the day’s highest sensible temperature is expected to remain at 33 C or above for two or more days.
The year’s first heat wave advisory comes five days later than that of last year. In 2024, the first such alert was issued on June 10 for parts of the Gyeongsang regions.
—IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
