South Korea's Food Inflation: Economic Pressures Challenge Consumers and Small Restaurants

South Korea's Food Inflation: Economic Pressures Challenge Consumers and Small Restaurants

Food prices in South Korea have surged sharply in recent months, continuing an inflationary trend that has affected both domestic and global markets. As inflation persists, consumers are feeling the burden of higher costs for essential items, particularly food. According to recent reports, the cost of meals in restaurants has risen by 3.2% in just the last year, part of a broader trend of rising prices that has lasted for more than two years. Th…

Consumer behavior shows lingering pain from inflation

The pain of food inflation continues to drive consumer behavior, even when that pain has largely stopped. At the International Fresh Produce Association BB #:378962 Retail Conference earlier this month, Jonna Parker of Circana presented a series of consumer trends, among them, shopper views and behavior in relation to food inflation. Parker showed that retail food prices rose 37 percent from 2019 to the end of 2024, but fresh produce at retail r…