In the summer of 2022, a number of countries around the world were overwhelmed by fears of soaring prices。
In an earlier article, we mentioned that inflation in the united states had reached 8. 6 per cent in may, a 40-year-old high, and that rising prices made it difficult for wage earners to accept。
However, this phenomenon does not occur only in the united states. In the near south korea, we have witnessed incredible price hikes in the last two months. It's expensive. It's expensive. It's expensive。
Korean netizens complain that they can no longer eat “soul food”, fried chicken and baked meat。
According to the korean media, this time it was felt that it used to say, “nothing but wages are rising.”。
According to korean media reports, the rate of inflation in korea reached 6 per cent in june, the worst in 23 years since the foreign exchange crisis in 1998. Even more worrying is the fact that the trend and pace of the increase do not seem to have stopped。
Prices in korea rose by 5 per cent in may, to 6 per cent in june, 7 per cent in july and in august。
In addition to rising spending on daily life, the cost of electricity and gas began this month, putting additional pressure on ordinary households。
Although the new president yoon seong-sik promised to deal with the people’s problems personally, the korean government could do little about the price hike。
The first point, similar to that of inflation in the united states, is related to the instability of the international supply chain as a result of the soviet war。
The second point is the increase in the price of raw materials due to the after-effects of the epidemic, as well as the lack of labour in the logistics and manufacturing sectors, which has forced producers to raise the cost of employment, which has also resulted in more expensive links than ever before。
Russia and ukraine are major exporters of many food raw materials. Ukraine is also known as the “european grain warehouse” because of its large wheat exports. The war had also led to the tightening of exports of strategic goods in both countries, while the republic of korea, which depended on imported wheat, had suffered。
In june, the price of processed food increased by 7. 9 per cent, the most affected of all categories. So maybe you don't have any idea. It's like the koreans are hanging out on their mouths, eating ramen almost every week。
In five years, well-known companies that did not have any price changes raised prices for heart and trifle. As a result of the food crisis, exports of wheat were suspended in ukraine and india, while those of indonesia, which exported the palm oil needed for fried flour, had recently begun to be controlled. The sharp rise in the prices of the two main raw materials has given large producers the option of increasing prices。
Other common korean commodities with higher prices
The sacramento korea division also announced that it had had to raise the price of sandwiches because the company could not bear the massive increase in costs。
At the same time, prices of food in supermarkets and convenience stores are rising. All kinds of sandwiches have increased by 300 to 500 won, and the price of milk has been the highest in 10 years, although it is still a little bit of a voodoo compared to takeout and restaurant food。
Last month, out-of-home spending increased by 4. 2 per cent over last december. Koreans regularly eat a 6. 3 per cent increase in the price of korean fried noodles, a 6 per cent increase in the price of pastries, and even monthly increases in some shops, which have not yet been seen。
People are complaining about going out for dinner this weekend. In an interview with korean tv, two seoul girls ordered a pizza for 37,000 won (kmb 190), which they said had not been as expensive last year。
Another interviewee and girlfriend ate pasta from a non-high-end restaurant at a cost of 30,000 won (154 won) and some more than before。
Chinese netizens in korea have also discovered the problem of price increases:
Some netizens found that many colleagues who used to go to the store for dinner had started eating noodles for lunch because they were still a little lower than the restaurant。
In an attempt to make the price increase more visible, one of the netizens compared the price of a different period of cream skank。
The first label was 2,500 won in april 2021, rising to 2,700 won, 3200 won in the middle and 3,400 won in july 2022。
On 23 june, the korea livestock quality assessment institute announced that the price per kilogram of pork with flowers was approximately 30,000 won (approximately 154 won), an increase of 14. 7 per cent compared to the price of 25,000 won last month。
The price of five flowers for one person at the seoul barbecue also amounted to 17,000 won (approximately 88 won)。
According to one of the netizens, it's been a while since i've had the guts to eat five flowers
"five flowers have gone crazy these days, and one cost 20,000 won, but my mother's meat is really good."
"it's so sad that the price of the five flowers i eat the most."
Noodles, noodles, and noodles. Internet users complained that the price of rice added to a bowl of rice over the years was 1,000 won (about 5 yuan), and that, as a result, the price of rice had recently surpassed 1,000 won。
“more shocking is the price of a bowl of rice above 1,000 won.”
– “how can this be? Isn't a thousand dollars a bowl more natural than seoul being the capital of korea?”
It was also reported by netizens that the procurement of collective lunches provided by schools to children had become cumbersome due to higher prices of raw materials. The government has restricted the standard of food purchases in schools, but the budget has remained almost unchanged。
Food oil is more expensive than before, and $50,000 worth of chili sauce is now up to $80,000. The prices of base fabrics such as sugar and salt have also increased。
According to netizens, the average cost of producing a meal in the recent past was 1500-2000 won (8-10 yuan), and now it is 2,500-4,000 won (13-20. 5 yuan)。
Of course, none of this is as high as the price of fried chicken, which makes the korean people speechless. According to press reports, several of korea's most famous chicken fried brands have been priced upwards, and since then the price of fried chicken has exceeded 20,000 won (102 won)。
It's the most basic raw fried chicken, and the premium for other flavors is even worse。
A seoul resident said that now the price of fried chicken was up to 20,000 won, and the cost of distribution was raised, so it was very expensive。
"a chicken 69,300 won (356), that's the price."
"it's delicious, but it's expensive to cry."
Other netizens have given up the takeout, and they've solved the problem themselves: "chicken is made tonight, more natural than fried chicken, which they used to eat. It's a lot cheaper than fried chicken, and 8,900 won a chicken
In addition, the price of fruit has risen. One netizens wrote:
"i'm a fruit madman who eats his first watermelon today without a day's fruit." the watermelon price is higher than last year. I bought it crying."
According to a june report issued by the agricultural observation centre of the korea institute for rural economic research, the wholesale price of the korean watermelon increased by 32 per cent in june over last year, reaching between 2300 and 2,500 won per kilogram. This is due to a shortage of labour in the melons, combined with the slow maturity of the watermelons due to a poor climate, which reduces the volume of deliveries and the supply of the water。
The price of apples, oranges and grapes will rise. While the reasons for these increases differ from those for food items such as fried chicken, they all occur at the same time and are disturbing to the population。
Although this korean inflation is largely an uncontrollable consequence of the epidemic and war, there may also be a “human catastrophe” behind it。
The increase in chicken fried prices, for example, had attracted widespread media attention in korea, and the consumer organization committee had also investigated the increase. They don't think the increase in chicken fried is necessary。
Although the cost of labour and raw materials has increased, the report shows that the profit structure of several large chicken businesses has not changed significantly and that the profits have been very stable。
The republic of korea does not depend on large imports of chicken, and the price of chicken, although rising, is stable and less so. So business people suspect that some businesses are taking advantage of korean inflation to catch fish, making more money after rising prices and throwing the pot to inflation。
In fact, this has happened before. Between 2005 and 2017, six korean enterprises managed to control the volume of chicken deliveries in order to raise the price of chicken for fried chicken and chicken broth and colluded in killing chickens in large numbers and destroying eggs。
That is to say, there was a sufficient supply, but these companies, which deliberately controlled the killing of chickens and then raised prices on the grounds of “supply is not enough”, even the korean chicken association joined the conspiracy. In the end, it is the people who suffer。
In addition to food, as a result of the effects of the russian-ukrainian war, paper-making from ukraine, such as maize starch, has been difficult to supply. The price of paper products in korea is at an all-time high, and toilet paper is more likely to increase by 50 per cent。
The price of books will also rise, and even the buying of stars will be more expensive。
With the exception of south korea, many countries are fighting inflation because of wars and epidemics, and the globalized economy has been associated. This is not a national dilemma, but rather a test that is difficult for all in difficult times。
I hope we can all get out of this and live a safe life.
