Business

Food Expenses for Low-Income Households in South Korea Surge by 40% Amid Inflation

Published

11 months ago

March 4, 2025

Recent government data reveals that food expenses for the lowest income class in South Korea have surged by nearly 40% over the last five years due to rising food inflation, placing an increased financial strain on low-income households. As of 2024, individuals in the bottom 20% of the income bracket are spending an average of 434,000 won ($300) per month on food, marking an increase of 121,000 won (38.6%) from 313,000 won in 2019, according to Statistics Korea.

Over the same period, overall household food expenses in South Korea rose by 175,000 won (26.3%), bringing the average to 841,000 won, as reported by Yonhap news agency.

Among the highest income earners, food expenditures reached 1.32 million won, reflecting a 27.1% increase from 1.04 million won during the same timeframe. This rise in food expenses can largely be attributed to significant inflation in food prices. The food and beverage price index climbed to 122.9 in 2024, an increase of 28.3% from 95.8 in 2019, which surpasses the overall 14.8% rise in South Korea’s consumer price index over the same period. Additionally, the price index for food services—which encompasses restaurant and catering costs—grew by 22%, rising from 99.2 to 121.

Experts indicate that lower-income individuals feel the impact of soaring food prices more acutely, as a larger portion of their income is dedicated to food compared to those in higher income brackets. Data from Statistics Korea illustrates that the lowest income group spends 45% of their disposable income on food, while the highest income group allocates just 15%.

In addition, recent industry data shows that South Koreans are collectively spending an average of two hours per day on the global video streaming platform YouTube. As of Tuesday, South Korean users have amassed a total of 69.65 million hours on the platform, with 29.99 million daily active users (DAU) averaging 139.37 minutes each day. Notably, this daily average increases to over 150 minutes on Sundays.

The same data indicates that Instagram has approximately 13.4 million DAUs, with users spending an average of 50.58 minutes on the app. KakaoTalk, the leading mobile messaging service operated by Kakao Corp., records 37.16 million DAUs with an average daily usage of 30.12 minutes. Naver, the largest mobile and online portal app in the country, has 26.51 million DAUs, with users spending an average of 25.4 minutes per day.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

2 weeks ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.