By Jane Han
Staff Reporter

If you're making the same amount of money and eating the same kinds of food this year, but are still feeling your wallet getting lighter, that's because local food prices are rocketing. Not just fast, but the fifth fastest in the world.

Statistics show that South Korea's food prices soared 4.7 percent in October from the same month a year ago, the fifth-biggest gain among OECD member countries and much higher than the OECD average of 1 percent.

Iceland saw the steepest price hike with food prices rising 12.7 percent in the past year, followed by Mexico at 7.8 percent, and New Zealand and Turkey at 5.8 percent each, the OECD report showed.

Recent government data show that everything from fried chicken and coffee to ``gimbap'' (rice rolled in dried seaweed) is becoming more expensive year after year.

According to Statistics Korea, gimbap and ramyeon ― both popular, traditionally inexpensive snacks ― rose 25.2 percent and 20.4 percent in price, respectively, compared to two years ago.

Pizza, fried chicken and ``jajangmyeon'' (noodles in black bean sauce) are among other food items that have increased 14 to 18 percent in price during the same period.

Government officials say that unlike other products and services, food prices tend not to fall once they go up.

Based on analysis by Professor Frank Zumbo of the University of New South Wales, grocery prices in Korea have showed the steepest hike among all OECD nations over the past 10 years.

Zumbo compared food pricing data from the OECD and found groceries have soared 48 percent here since the start of 2000.

New Zealand and Australia came next, posting 42 percent and 41 percent price hikes, respectively.

jhan@koreatimes.co.kr