The price of dining out increases more than 4%

The price of dining out increases more than 4%. January. 14, 2025 08:03. by ??=??? ?? soon9@donga.com.
Amid dining prices increasing by 3% for three consecutive years, even more cost-effective meal options such as lunch boxes and cafeterias increased by more than 4% last year. There are growing concerns that the cost of dining out would continue to rise amid domestic political instability and uncertainties coming from the possible application of universal tariffs by the United States.

According to Statistics Korea on Monday, the price of dining out last year rose 3.1% compared to the previous year, which is higher than the overall inflation rate (2.3%). The cost of dining out has continued to rise above 3% for three years starting in 2022. The increase was evident, particularly for low-priced and popular dining items. The price of tteokbokki jumped 5.8%, while the price of hamburgers (5.4%), kimbap (5.3%), and chicken (4.8%) also rose significantly. Even the price of lunch boxes (5.9%) and cafeterias (4.2%), popular lunch items among office workers as good value options, have risen sharply.

Higher food prices due to abnormal weather conditions impacted this increase in prices. Last year, prices of agricultural, livestock, and marine products rose 5.9%, while vegetable prices increased 8.2%.

Higher dining prices are expected to continue this year as well. With Korea having a high proportion of food imports, the weaker won against the dollar is likely to push up prices further. “The rise in prices of imported materials impacted by a weaker Korean won will lead to an increase in production costs and is likely to result in higher prices of processed foods and dining costs,” said a report by the Korea Rural Economic Institute submitted to the National Assembly.