A customer walks by a McDonald`s store in Seoul in this file photo. (Yonhap)
SEOUL, May 5 (Korea Bizwire) — Consumer prices for hamburgers in April marked the highest growth in 19 years as franchise chains raised their burger prices due to soaring raw material and logistical costs, data showed Thursday.
According to data from Statistics Korea, hamburger prices rose by 17.1 percent last month compared to a year ago, the highest since July 2004.
The growth in hamburger prices has been on a steep upward trend, rising from 7.1 percent in February to 10.3 percent in March and 17 percent last month.
In addition to hamburgers, pizza prices also jumped by 12.2 percent last month, the highest since November 2008.
Fried chicken prices rebounded as well, rising by 6.8 percent year on year, which was 1.6 percentage points higher than the previous month after showing a slowdown.
Although the nation’s overall consumer price inflation slowed to the 3 percent level last month for the first time in 14 months, prices of hamburgers, pizza, and fried chicken offered by franchises continue to increase rapidly.
The last month’s hamburger price increase was 4.6 times higher than overall consumer price growth, compared to 3.3 times higher for pizza and 1.8 times for chicken.
J. S. Shin (js_shin@koreabizwire.com)
