Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Selected NK troops, generals may be deployed to front lines: NIS

    Selected NK troops, generals may be deployed to front lines: NIS
  2. 2

    'Pongpongnam' row exposes South Korea's gender divide

    'Pongpongnam' row exposes South Korea's gender divide
  3. 3

    Fox Sister: A Korean tale darker than your average ghost story

    Fox Sister: A Korean tale darker than your average ghost story
  4. 4

    From 'superstars' to 'privileged and spoiled': Doctors fight souring image

    From 'superstars' to 'privileged and spoiled': Doctors fight souring image
  5. 5

    NIS says North Korean leader’s daughter clearly in line to rule

    NIS says North Korean leader’s daughter clearly in line to rule
  1. 6

    Hybe apologizes over controversial internal documents, reassigns writer

    Hybe apologizes over controversial internal documents, reassigns writer
  2. 7

    Seoul City to spend W6.7tr to encourage couples to have kids

    Seoul City to spend W6.7tr to encourage couples to have kids
  3. 8

    Why one man's move is shaking Korea: Child rapist’s relocation sparks controversy, fear

    Why one man's move is shaking Korea: Child rapist’s relocation sparks controversy, fear
  4. 9

    [KH Explains] How LG Energy Solution’s bold bet paid off with Tesla, Mercedes deals

    [KH Explains] How LG Energy Solution’s bold bet paid off with Tesla, Mercedes deals
  5. 10

    Seventeen’s Seungkwan releases lengthy message amid Hybe controversy over internal documents

    Seventeen’s Seungkwan releases lengthy message amid Hybe controversy over internal documents
소아쌤

[Monitor] Korea’s Engel coefficient hits record low

By Korea Herald

Published : March 27, 2017 - 17:09

    • Link copied

South Korea’s monthly average household spending on food and non-alcoholic beverage items reached 349,000 won last year, with the Engel coefficient against the total spending coming at 13.7 percent, the lowest since 2003.

The average consumer spending was 2.55 million won.

The drop was attributed to a decline in food prices that brought down the overall spending amount.

The coefficient, however, differed significantly among different levels of income, with the index for the low-income households marked at 20.44 percent.

Engel‘s law indicates that as income rises, the proportion of income spent on food declines.

More from Headlines