South Korea hamburger prices reach 19-year high

Prices increased by 17.1% on-year in April.

Hamburger prices in South Korea have reached a 19-year high on the back of major franchise companies raising their prices as expenses on raw materials increased, several local outlets reported.

Citing government data, hamburger prices rose by 17.1% on year in April, the highest jump since July 2004 when prices increased by 19%.

The increase has been on a steep upward trend, with prices rising 7.1% in February and 10.3% in March.

Pizza prices have also been steadily increasing in recent months. In January, pizza prices went up by 8.8%, followed by 10.7% in February, and 12% in March. During April, prices increased slightly to 12.2%, the highest since November 2008 when pizza prices spiked 13.2%.