South Koreans are cutting back on dining out and searching for affordable meal solutions such as ready-to-eat meals and discounted snacks, driving a surge in demand for budget-friendly groceries amid rising inflation.
The country's consumer price index (CPI) rose 2.2 percent in January, according to official data released by Statistics Korea. As a result, South Korean consumers faced higher costs for both processed foods and dining out in January. Processed food prices accelerated to a 2.7 percent year-on-year increase, up from 2 percent in December, while eating-out expenses rose 2.9 percent.
To attract price-conscious consumers, retailers are expanding their offerings of affordable products, including ready-to-cook meal sets priced around 2.76 U.S. dollars, which have become a hit at major supermarkets.
"My colleague told me that there are convenient foods sold at the supermarket. [This is my first time] coming here to check it out. There are indeed many varieties, and they are value for money. I'll definitely buy it regularly in the future," said a local resident.
Meanhwhile, convenience stores are expanding their offerings of budget-friendly foods, including snacks and kimbap (Seaweed Rice Rolls). CU, South Korea's leading convenience store chain, reports that sales of products priced below 1,000 won (about 70 cents in U.S. dollars) are increasing at a remarkable 20 percent annually.
"Consumers have become more sensitive to prices. We've adjusted product prices in 10 won units (about 0.007 U.S. dollars). This time, we prioritized launching fresh foods and processed products. Now we are stocking the shelves with fresh foods and processed products, and are planning to further expand the range of ultra-low-priced items to attract more consumers," said Son Woo-yoon, manager of a CU convenience store.
South Korean consumers embrace budget-friendly groceries amid rising inflation
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
