9 out of 10 Koreans say “The price of commodities rose up in comparison with 3 months ago”

News provided by
NielsenIQ
Mar. 31, 2011 09:54
SEOUL --(Korea Newswire)--It appeared that 9 out of 10 Koreans(93.1%) think the price of commodities rose up and 1 out of 2 respondents feel their household economy was worse in comparison with 3 months ago.

This finding is the result of the survey conducted by Nielsen Company Korea, a global information and measurement company, between February 25 and March 4, 2011 among 1,000 internet users in major cities (Seoul, Daejeon, Daegu, Gwangju and Busan).

‘Meat’ price ranked the top which local consumers feel the most increased, followed by agricultural products, marine products and real estate. Especially, more than 9 out of 10 consumers answered the meat price rose up.

When asked about household economy, 1 out of 2 respondents(48.5%) answered their household economy is worse than 3 months ago and this tendency is more remarkable among low-income group.

Regarding household savings and debts, 40% of respondents answered their savings decreased and approximately 1 out of 3 respondents(28.8%) said their debts increased in comparison with 3 months ago.

“The market basket price that Korean consumers feel is very serious as an influence of local foot-and-mouth disease, high oil prices and unusual weather and household savings are declined, what is worse, debts are increased. Indeed, it assumed that Japan earthquake will have an aftereffect on local prices and household economy.” analysed Won-Seok Choi, Director of Socio Public Research, Nielsen Company Korea.

Website: https://nielseniq.com

Contact

Hee-Jung Yang
02.2122.7080
Send Email