고물가에 1분기 가계 실질소득 7년 만에 최대 감소
Higher prices in the country have resulted in the sharpest fall in inflated-adjusted household income in the first quarter since 2017.
Our Park Kun-woo explains.
South Korea's household income saw an increase in the first quarter of the year, but taking inflation into effect, inflation-adjusted income, or buying power, fell in the largest range in seven years due to higher prices.
According to Statistics Korea on Thursday, the monthly average income per "household" in Q1 was around 5-point-1-2 million won, or over 3-thousand-7-hundred-50 U.S. dollars, an increase of 1-point-4 percent year-on-year.
But when considering inflation of three percent during that period, income dropped by 1-point-6 percent from the year before.
This was the sharpest fall among all first quarters since 2017, when it dropped by 2-point-5 percent.
Income earned through wages, the biggest part of household income dropped 1-point-1 percent year-on-year.
When adjusted for inflation, that figure fell by nearly four percent from the previous year, which was the highest drop ever since related data was first compiled in 2006.
"The rise in consumer prices and slashed incentives given by major companies were the main factors behind this fall."
Data also showed that the monthly average amount of spending per household in the first quarter was nearly 2-point-9-1 million won or over 2-thousand-1-hundred dollars, up three percent year-on-year.
They showed that people spent more on food and non-alcoholic beverages, along with on accommodation and entertainment.
Park Kun-woo, Arirang News.
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2024-05-23, 18:00 (KST)
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