Ramen: A True Measure of Inflation

If you really want to know what consumer prices are doing in South Korea, you need to monitor 2 items: ramen and leaf pies. The good news of cheaper ramen and leaf pies comes from South Korea’s JoongAng Daily

Nongshim Co., the biggest ramen producer in Korea, said yesterday it would cut the prices of seven ramen products – including its popular Shin Ramyun and Ansungtangmyun brands – by 2.7 percent to 7.1 percent, effective as of today.

Samyang Corp., the second-largest producer of ramen in the country, also said last Friday that it would cut the prices of five major ramen products by an average of 6.7 percent.

What is a leaf pie you ask? Well I have no idea, but it now only costs only 1800 won (about $1.50 as of Feb 7, 2010). This apparently joins the Big Mac Index as another food measure of economics.

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