SEOUL, Feb. 18 (Korea Bizwire) — The price of sugar rose 11 percent in January from a year earlier as the cost of widely consumed processed foods increased overall, the Korea Consumer Agency said Monday.
A survey of 26 items in the measured basket of foods for the month showed price hikes for 18 and drops for six. Prices for two remained the same.
The agency normally reviews inflation for 30 items, but four were left out this time as the subjected items are being adjusted.
Compared with January last year, the price of sugar jumped 11 percent, followed by soybean paste (9.8 percent), Coca Cola (9.7 percent) and fish cakes (8.5 percent).
Other price increases included bottled water (6.8 percent), milk (6.7 percent) and instant rice (5.6 percent).
Cooking oil, on the other hand, cost 6.1 percent less than the previous year. Orange juice was 5.3 percent less expensive, and hot pepper paste 4.9 percent less.
The prices of surveyed items gained 0.2 percent from December.