[Edaily Reporter kim mi-kyung ] Consumer prices, which had eased slightly during the Chuseok holiday, are expected to resume their upward trend after the holiday. This comes as discount promotions on processed foods—conducted by major food companies in conjunction with the government’s measures to stabilize people’s livelihoods—have come to an end. In particular, since previously announced price hikes are set to take full effect starting in October, observers note that the burden of food prices felt by households after Chuseok could be even greater than the actual rate of increase.

According to the food industry on the 27th, the government conducted a large-scale discount campaign in collaboration with about 20 food companies to stabilize prices for this Chuseok holiday. By offering discounts of up to 64% on approximately 4,700 processed food items, the campaign helped alleviate the burden on consumers’ shopping budgets ahead of Chuseok.

The problem lies in the period after Chuseok. As the discount benefits offered during the holiday season come to an end, the shock to consumers will inevitably double when they are faced with regular prices again. In particular, the price gap between discounted prices and regular prices will be wider for popular items that saw significant discounts, which could make the perceived price increase even more pronounced.

In addition, the price hikes announced by major food companies will begin to take effect in earnest starting in October. Haitai Confectionery will raise prices by an average of 7.8% for 25 brands, including Oyes, Home Run Ball, Poky, and Gohyang Mandu. The price-increased products will be supplied sequentially starting October 1, taking into account each distributor’s inventory levels. By product category, snacks and chocolates will rise by an average of 9.8%, biscuits by 9.4%, candies by 10.0%, and Gohyang Mandu by 7.8%.

Looking at major products, the 60g Honey Butter Chips will rise 5.9% from 1,700 won to 1,800 won, and the 46g Home Run Ball will increase from 1,900 won to 2,000 won. Oyes (360g) will rise from 6,600 won to 7,000 won, and Poki (46g) from 1,900 won to 2,200 won. Jayu Time (36g) will see a 16.7% price increase, rising from 1,200 won to 1,400 won. For some products, the company has decided to reduce the burden on consumers by decreasing the package weight rather than raising prices.

Woongjin Foods will also raise prices on approximately 20 items, including Morning Sun, Green Plum, Sky Barley, and Nature’s, by an average of 7% starting October 1. Based on convenience store retail prices, the 500-milliliter bottles of “Morning Sunlight” and “Green Plum” will increase by 6%, from 2,350 won to 2,500 won, while the 500-milliliter bottles of “Organic Sky Barley” and “Kamut Brown Rice Tea” will rise from 2,500 won to 2,600 won.

With beverage companies following in the footsteps of confectionery manufacturers in raising prices, price adjustments in the food industry appear to be gaining momentum in October. There are also concerns that price adjustments could spread across the processed food sector as companies—which had delayed price hikes ahead of the Chuseok holiday—begin raising prices sequentially after the holiday.

Food companies cite rising costs—including raw material prices, exchange rates, and logistics expenses—as the reason for the price hikes. They explain that while they had previously absorbed these cost increases internally or delayed price increases, they can no longer bear the accumulated cost burden.

A food industry official stated, “As price hikes in the food industry gain momentum after Chuseok, the inflationary pressure that had been masked by ‘holiday discounts’ is now coming to the surface in full force.” The official added, “Given that cost variables such as international oil prices, raw material costs, and exchange rates continue to fluctuate, it is difficult to rule out the possibility that additional companies—beyond those that have already decided on price increases—will also implement price adjustments.”