Blitz Bureau
Seoul, June 15 — South Korea has emerged as the country with the second-highest food and beverage prices among all member nations of the Organization for Economic Cooperation and Development (OECD), new figures revealed on Sunday.
According to data that adjusts for purchasing power parity, South Korea’s food and beverage price index reached 147 in 2023 — 47 percent above the OECD average. This places the country just behind Switzerland, which topped the list with a reading of 163.
Other major economies ranked significantly lower. The United States posted an index of 94, while Japan and Germany registered 126 and 107, respectively.
Domestically, rising costs have been a pressing concern. Statistics Korea reported that the national consumer price index reached 116.03 in the first quarter of 2025 — a 16 percent jump compared to five years ago.
Breaking it down, the index for essential everyday items — a group of 144 goods including food, clothing, and housing — was 119.09. Food prices alone climbed even higher, standing at 125.04.
In response, the South Korean government is preparing a comprehensive strategy to rein in living costs, with special attention on products such as eggs and processed foods that have seen steep price increases in recent months.
In a separate development, the Korea Meteorological Administration issued the first heat wave advisory of the year for parts of Gyeonggi Province on Sunday. The alert, effective from 9 a.m., covers cities including Pocheon, Gapyeong, Paju, Anseong, and Yeoju.
The advisory is triggered when maximum perceived temperatures are forecast to remain at or above 33 degrees Celsius for at least two consecutive days. This year’s first heat wave alert comes slightly later than in 2024, when it was issued on June 10 for parts of the Gyeongsang region.
As living costs rise and the summer heat begins to bear down, the pressure on household budgets continues to grow.