Korea to reflect subscriptions, smartwatch costs in consumer price data

Korea will revise items included in the consumer price index basket in a regular reshuffle, reflecting the latest trends by adding subscriptions and smartwatch-related costs, with details set to be announced in December, the statistics agency said Tuesday.

The Ministry of Data and Statistics said it will carry out the restructuring of items included in the consumer price survey, with the latest round of adjustments focusing on reflecting consumers' spending patterns in the digital sector.

In detail, the country will add subscription fees for software and cloud services, while excluding items that have become less popular recently, including bracken fern, an ingredient used in Korean side dishes.

Other categories to be added include meal kits, electric vehicle charging fees, online shopping subscriptions and malatang, a Chinese dish that has gained popularity in Korea in recent years.

Korea plans to gather public opinions through mid July before finalizing the reshuffle.

Yonhap