[News Today] COFFEE, CHOCOLATE PRICES UP

[LEAD]
Prices...it just continue to rise. Rising raw material costs have pushed up prices for children's snacks and beverages, increasing the burden on household budgets.

[REPORT]
This is a chocolate snack that kids love.

Its price has remained 1,000 won, about 72 cents, for 10 years, but the price rose 20% to 1,200 won or roughly 86 cents, starting this month.

The price of another chocolate snack rose from 1,700 won, or a little over a dollar, to 1,900 won, or a dollar and 36 cents.

Kim Ji-yu/ Gwangmyeong resident
I use my allowance, so price hikes make it hard to buy.

Confectionary companies raised chocolate snack prices, as cocoa prices soared 127% over the past year.

Orion raised prices on 13 products by an average of 10.6% this month, while Haitai increased prices on 10 products by an average of 8.6%.

Confectionary Industry Insider/
The international price of cacao beans spiked recently and is likely to keep rising. It was inevitable for us to make the decision.

Coffee prices have also increased.

Starbucks Korea raised the prices of some of its coffee beans followed by the price hikes for Dongsuh Foods' instant coffee mix and other products.

Even the price of bottled water rose. Nongshim raised the factory price of its spring water by an average of 9.9%.

Palm oil, used in making snacks and ramyeon, has risen over 20% compared to the average year, raising concerns about further price hikes for other products.

Kim Yeon-jung/ Gwangmyeong resident
The prices of raw ingredients never come down once they have gone up.

With consecutive price hikes increasing household expenses, concerns are growing that year-end consumer sentiment may weaken further.