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Growth in Food Prices Among Highest in OECD This Yr

Written: 2017-11-18 13:50:45Updated: 2017-11-18 14:14:28

Growth in Food Prices Among Highest in OECD This Yr

The increase in prices at grocery stores in South Korea has ranked the country among the top of the OECD for the third consecutive quarter. 
 
This is attributed to a number of things including the summer heat and heavy rain. The avian influenza and the foot-and-mouth disease outbreak this year have also raised agricultural, livestock and fishery prices.
 
However in the fourth quarter, food price increases may ease due to a base effect and prices gradually stabilizing. 
 
According to OECD data on Saturday, food costs in South Korea rose five-point-four percent in the third quarter year-on-year, the sixth highest in the OECD.
 
Korea ranked fifth in the first quarter and sixth in the second.

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