Ramyeon prices in Korea rise at steepest clip in 13 yrs in Oct

[Photo by Han Joo-hyung]

Prices of ramyeon, or instant noodles and everyday snack or staple for South Koreans, rose at the fastest clip in 13 years, amid broad acceleration of consumer prices in Korea. Ramyeon prices surged 11%in October from the same month last year, the steepest rate since February 2009, according to the data released by Statistics Korea. The country’s No.1 and No.2 ramyeon producers Nongshim and Ottogi raised the prices for their ramyeon products for the first time in years in August due to the rising costs of ingredients such as flour.

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