South Korea's clothing and footwear prices rose to an 11-year high in March

Sino-Singapore Jingwei, April 23, according to Yonhap News Agency, the Consumer Price Index released by the Korean Statistical Office on the 23rd according to the purpose of expenditure showed that the price of clothing and shoes in March this year rose by 6.1% year-on-year, hitting a record high in November 2011 (6.3%). ) to a new high nearly 11 years and 4 months later.

According to the report, the price increase of clothing and shoes in South Korea has remained below 0-2% from April 2018 to before the outbreak of the new crown epidemic, and it was even negative in 2019. However, from November 2021, when the phased return to normal began, it began to show an upward trend. It exceeded 3% in May last year, exceeded 5% in November, and exceeded 6% last month.

The analysis pointed out that the lifting of epidemic prevention measures has led to an increase in external activities such as travel and work, thereby pushing up the demand for clothing products.

In terms of product categories, the prices of children's clothing (9.6%) and casual clothing (6.9%) have increased significantly. Women's clothing rose 5.4 percent and men's clothing rose 3.6 percent. Clothing washing, repair and rental prices rose 12.2%. Footwear prices rose 5.9 percent.

According to reports, on the contrary, South Korea`s consumer price index rose by 4.2% year-on-year in March, a decrease of 0.6 percentage points from the previous month (4.8%), the smallest value in nearly 12 months since last March (4.1%).