April Dining Out Prices Surge 6.6%... Everything Rose Except Hamburgers

6% Increase for Three Consecutive Months in 13 Years Since the Financial Crisis

The consumer price inflation rate in April soared to the high 4% range, the highest level since the 2008 financial crisis. On the 3rd, citizens were shopping at Yeongcheon Market in Seodaemun-gu, Seoul. Photo by Moon Honam munonam@

[Asia Economy Sejong=Reporter Kwon Haeyoung] Last month, dining-out prices rose by 6.6% compared to a year ago, marking the largest increase in 24 years.

According to the Statistics Korea National Statistical Portal (KOSIS) on the 7th, the dining-out price index in April this year was 108.85, up 6.6% from the same month last year. This is the highest increase rate in 24 years since April 1998 (7.0%).

Dining-out prices showed a continuous increase of over 6% for three consecutive months: 6.2% in February, 6.6% in March, and 6.6% in April this year. This is the first time in 13 years since the financial crisis period from September to December 2008.

Among 39 items, prices of 38 items rose simultaneously except for hamburgers (-1.5%). Galbitang prices increased the most by 12.1%, followed by saengseonhoe (raw fish) (10.9%), gimbap (9.7%), jajangmyeon (9.1%), ramen (9.1%), chicken (9.0%), beef (8.4%), tteokbokki (8.3%), Makgeolli (8.3%), naengmyeon (8.2%), and jjambbong (8.0%).

The sharp rise in ingredient prices, increased labor costs, and expanded demand combined to drive up dining-out prices. Once dining-out prices rise, they rarely fall, and they are expected to act as a continuous upward factor for the recently soaring consumer prices. Last month, the consumer price inflation rate was 4.8%, the highest in 13 years since the 2008 financial crisis.

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