An increase in prices for consumer goods are being seen across the board in Korea. This includes a price hike for your favorite beverages, snacks, seafood, farm products, and gasoline. According to NocutNews, the bakery and confectionery industry is also considering raising prices to match the increased price of sugar and flour. Seafood prices have also seen a jump, which is a direct result from a decrease in catches. The price of mackerel has seen the biggest increase with 50%, and hair-tail (beltfish) with a 12.9% increase from last year.
Agricultural products have also increased. The price of vegetables such as spinach and young pumpkins has gone up 30% in a week's time. Gasoline also went up 5.3% on the first day of 2011, increasing to 1,800 Won per liter, which is the highest price seen in 2 years and 4 months.
In addition, according to 서울신문, the board of KBS (Korean Broadcasting System) has decided to increase their licensing fees from 2,500 Won per month to 3,500 Won per month. This increase will result in a 12,000 Won per household hike on electric bills each year (TV licensing fees are included in electric bills).
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