Consumer Agency: "Pork and Beef Prices Rose Sharply in May Due to Disaster Relief Payments"

[Asia Economy Reporter Seungjin Lee] As pork consumption increased due to the government's emergency disaster relief fund payments, the prices of pork neck and pork belly in May rose sharply by nearly 20% within a month.

According to the results of a survey conducted on May sales prices of six domestic pork and beef items through the Korea Consumer Agency's comprehensive price information portal 'Chamgagyeok' on the 23rd, the average price of domestic pork neck was 2,608 KRW per 100g, up 19.8% from 2,177 KRW in April.

The price of pork belly (100g) also rose 17.5%, from an average of 2,364 KRW in April to 2,778 KRW in May.

For beef, the prices of sirloin (Grade 1), bulgogi (Grade 1), and sirloin (Grade 1+) increased by 9.3%, 4.3%, and 2.0%, respectively. However, the price of bulgogi (Grade 1+) fell by 1.1%.

Among 30 processed food items frequently purchased by consumers, prices of 16 items increased, including sesame oil (4.9%), cola (3.9%), tofu (3.8%), and curry (1.8%). In particular, fish cake prices have risen for three consecutive months recently, and tofu prices, which had been falling since February, rose in May.

Prices of 11 items, including orange juice (-2.7%), doenjang (fermented soybean paste) (-2.2%), and gochujang (red chili paste) (-1.6%), fell compared to April, and instant rice prices declined for two consecutive months.

This content was produced with the assistance of AI translation services.