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Bus token▶ Click here to enlarge
How has the consumer price, closely related to our lives, changed in 50 years?
Korea Inflation Information, an agency specializing in price surveys, published a “Full Price Summary” on the 16th showing the fluctuations in inflation by major items from 1970 to this year.
Looking at the change in transportation costs, the fare for regular city buses in Seoul in January 1970 was 10 won. Compared to the current transportation card fee of 1,200 won, it has increased 120 times in 50 years.
When the subway opened in August 1974, the base fare for District 1 was 30 won. The current base rate of 1,250 won (based on the use of a transportation card) is 41.6 times higher than it was 50 years ago.
In 1970, the base fare for a taxi was 60 won, 6 times more expensive than the fare for a city bus. The basic taxi fare rose to 160 won in 1974, recording three digits for the first time. Currently, the base taxi fare in Seoul is 3,800 won, 63 times higher than in 1970.
Jajangmyeon, one of the representative foods for ordinary people, cost 100 won per bowl in 1970. After rising to 2,500 won in 2000, the price has recently risen to about 5,000 won and has risen nearly 50 times in 50 years.
Inflation (PG)▶ Click here to enlarge
The small amount (based on 360 ml) was 65 won in 1970, 830 won in 2000 and 1,260 won recently, almost 20 times in more than 50 years.
In 1970, 20 cigarettes cost 60 won for a pack of Shintanjin and 100 won for a pack of celadon. The only one released in 1980 was 450 won per package.
The price of domestic cigarettes has risen to 1,000 won starting with Omasharip, which was released in April 1985, and currently holds 4,500 to 5,000 won.
The price of rice based on 40 kg in 1970 was 2,880 won, but this year it has increased 33 times to 96,000,200 won.
Beef increased 133 times from 375 won to 50,000 won based on 500g of meat, while pork increased 48 times from 208 won to 10,000 won based on 500g of meat.
The Korea Price Information Service publishes a “Full Price Summary of Prices” every five years based on data from the National Statistical Office and its own price survey.
┌────┬─────┬──────────────────────────┐
│ Item Units Price per year │
├────┼─────┼───┬────┬────┬───┬───┬────┤
│ │ │ 1970│ 1980│ 1990│2000│2010│ 2020│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Rice│ Heavy goods (20 kg) │ 2,880│ 28000│ 49200│ 82000│ 66000│ 96200│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Beef Meat (500g) │ 375│ 2660│ 5500│ 10900│ 37500│ 50000│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Pork │ Butcher (500g) │ 208│ 1540│ 2300│ 3750│ 7500│ 10000│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Chicken│ Heads (2kg) │ 420│ 2890│ 6700│ 6000│ 5200│ 7000│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Egg Yellow egg (10 pieces) │ 140│ 500│ 950│ 1670│ 2850│ 5990│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Soju│ bottle (360ml) │ 65│ 190│ 420│ 830│ 1000│ 1260│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Beer│ Bottle (500ml) │ 175│ 430│ 660│ 1270│ 1180│ 1410│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Cigarette 1 pack (Shintan│ (Turtle Ship) │ (ESSE) │ (ESSE) │ (ESSE) │ (ESSE) │
│ │ │ Jin) 50│ 300│ 1300│ 1700│ 2500│ 4500│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│Intercity bus│ 1 time (one way) │ 10│ 80│ 140│ 500│ 1000│ 1200│
│ Fee│ │ │ │ │ │ │ │
├────┼─────┼───┼────┼────┼───┼───┼────┤
│Taxi rate│ Base rate│ 60│ 400│ 700│ 1300│ 2400│ 3800│
├────┼─────┼───┼────┼────┼───┼───┼────┤
│ Subway│Zone 1 / Basic│ 30│ 80│ 200│ 500│ 900│ 1250│
└────┴─────┴───┴────┴────┴───┴───┴────┘
* Starting from August 1974 for the 1970 subway. Unit: won. Seoul standard. (Source: Korea inflation information)
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