"Let's Eat Beef with Consumption Coupons" July Hanwoo Price 4.9%↑[Comprehensive]

[Financial News] The consumer price in July, when the livelihood recovery consumption coupon was released, rose 2.1% compared to a year ago. The price of seafood rose sharply, and processed foods also continued to rise. As 150,000 to 400,000 won was paid per person nationwide, it seems that the prices related to Hanwoo and dining out have risen.
 According to the 'July 2025 Consumer Price Trend' announced by the National Statistical Office on the 5th, the consumer price index last month was 116.52 (2020=100). It rose 2.1% compared to the same month last year.
 The consumer price inflation rate recorded 2% from January to April this year, then narrowed to 1.9% in May. It maintained the 2% range again in June (2.2%) and last month. The Ministry of Strategy and Finance presented a forecast of 1.8% in the economic policy direction in January. Last year it was 2.3%, and in 2023 it was 3.6%.
 Agricultural, livestock, and fishery products rose 2.1% compared to the same month last year as the number of heatwave days increased. Agricultural products recorded -0.1%. The decline was narrower than in June (-1.8%). On the other hand, livestock products (3.5%) and fishery products (7.3%) rose. A National Statistical Office official said, "The number of heatwave days in July was 4.3 days last year, but it was 14.5 days this year, 10.2 days more," adding, "It can greatly affect agricultural, livestock, and fishery products."
 The sharp rise in fresh fish and seafood had a significant impact on fishery products. Mackerel is a representative example at 12.6%.
 A National Statistical Office official said, "As the mackerel fishing ban ended, production increased, and prices rose together," adding, "There is also a reason for the increased demand for seaweed." However, due to the impact of last year's high agricultural product prices, fresh vegetables and fresh fruits fell by 1.5% and 3.9%, respectively.
 Prices of items closely related to the issuance of livelihood recovery consumption coupons rose. Domestic beef (4.9%), pork (2.6%), beef dining out (1.6%), and pork ribs dining out (2.3%) increased compared to the same month last year. In June, domestic beef was 3.3%, and beef dining out was 1.2%, with the increase in beef prices expanding. On the other hand, in June, pork was 4.4%, and pork ribs dining out was 1.8%. Pork prices fell, but dining out costs rose.
 A Ministry of Strategy and Finance official said, "In the past, when pandemic disaster relief funds were paid, Hanwoo consumption surged, leading to price increases," adding, "We see demand for consumption coupons on the Hanwoo side. On the 21st of last month, the supply of Hanwoo was increased by 30% in line with the issuance of consumption coupons."
 A National Statistical Office official said, "Consumption coupons can be used for items that are not usually consumed," adding, "Since the issuance of consumption coupons was around the end of last month, it may have had a slight impact."
 However, the Ministry of Strategy and Finance drew a line, saying that consumption coupons are not at a level that stimulates price increases. They plan to monitor the impact of consumption coupons in the future.
 A Ministry of Strategy and Finance official said, "We need to see more data. It is currently difficult to analyze which items were purchased using consumption coupons," adding, "We are trying to analyze data from the Ministry of the Interior and Safety internally."
 Dining out prices also rose 3.2% compared to the same month last year. Prices of 38 out of 39 items that make up dining out prices, except for one item (pizza), rose. Sashimi (6.3%), coffee (4.1%), etc., stood out. Dining out prices appear to be influenced by rising labor costs, raw materials, and delivery costs. Processed foods also rose 4.1%. Bread (6.4%), coffee (15.9%), ham and bacon (7.1%), etc., rose significantly. However, due to the impact of discount events, the increase was narrower compared to June (4.6%).
 Meanwhile, the core inflation indicator of the OECD method, excluding food and energy, rose 2.0%, maintaining the same level as the previous month (2.0%). The living cost index, which is composed mainly of frequently purchased items and is close to perceived inflation, recorded the same 2.5% as the previous month.





junjun@fnnews.com Choi Yong-jun Reporter