![[instiz] SOUTH KOREA APPARENTLY HAS THE 2ND HIGHEST FOOD PRICE AFTER SWITZERLANDㅋㅋㅋㅋㅋㅋㅋ](https://blogger.googleusercontent.com/img/a/AVvXsEhivKssh3ryYYjZYK-aS_fty-Q3Wx_vCOEn4JyVNRC6u2b-m6V4vQ8KDhsmmp5mQua4twe8uCNZ_Afj6j9OawS2kpsP0aRPC14BSn8WvC9KvjjoESILXnLFuhflkvM66-UyGOY-bouzieOV0HrdN5BNeV3-p-pfbDnNvNwaRlWWaX8c_sv3QSqhkrHujuLx=w1200-h630-p-k-no-nu "[instiz] SOUTH KOREA APPARENTLY HAS THE 2ND HIGHEST FOOD PRICE AFTER SWITZERLANDㅋㅋㅋㅋㅋㅋㅋ")
Price levels of food and non-alcoholic beverages in major OECD countries, adjusted for Purchasing Power Parity (PPP). An indicator that compares relative price levels by reflecting each country’s purchasing power.
Based in 2024
1. Switzerland
2. Korea
3. Japan
4. US
5. France
6. Germany
7. UK
It’s said that in absolute prices, not just the inflation rate, we are the second highest, right after Switzerland
It’s the definition of a fully developed nation
We actually ranked first in 2023, so dropping one spot in 2024 is considered an improvement
For reference, costs in categories other than groceries, clothing and footwear, and education are reportedly below average
1. We need to crack down on the retail industry
2. It’s a relative price index, not an absolute price, right?
> It’s explained in absolute prices
3. On the other hand, dining out doesn’t seem all that expensive. Since I prefer cooking at home, I just wish grocery prices would come down
4. I used to live in Korea and now live in New York, and honestly, groceries are cheaper here… You can save on food costs as long as you don’t eat out
5. Aren’t fruit and bread cheap in Europe?
6. They say it’s not a problem because it’s in line with the OECD average
We adjusted prices because we were constantly told to meet the OECD average
7. Grocery prices have gone up so much… Ice cream that cost 1,100 won three years ago is 1,600 won now
8. Seriously, grocery prices in Korea are so high… but on the bright side, eating out is cheap
9. I looked up the minimum hourly wage in the Swiss canton of Geneva for 2024 is around 38,000 won, and I’m just dumbfounded…
10. It’s a matter of relative cost of living; I split my time between the UK and the US, and it’s much more expensive here