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S. Korea Ranks 10th among OECD in Growth of Food Prices

Written: 2018-06-03 14:28:58Updated: 2018-06-03 14:33:18

S. Korea Ranks 10th among OECD in Growth of Food Prices

Photo : YONHAP News

South Korea ranked tenth among advanced economies in terms of the growth of food prices.

According to data by the Organization for Economic Cooperation and Development (OECD) on Sunday, the nation's food prices increased two-point-nine percent in April from a year earlier.

It marks the tenth largest growth among OECD nations. South Korea's ranking slipped to 30th in January, but it jumped back to tenth place for the first time since September last year.

The rise in food prices in April is attributed to the sharp rise in potato prices, which soared 77 percent, marking the largest gain since March 2004.

South Korea's overall inflation rate remains at around one-point-five percent from February to April, but its food prices increased two-point-two percent in February, one-point-five percent in March and two-point-nine percent in April.

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