[Newsmp] The price index for cold medicines in South Korea has increased by more than 20% since the start of the COVID-19 pandemic in 2020.
Among other pharmaceutical products, the price index for digestants soared by more than 10% alone last year.
South Korean pharmaceutical prices rose by 2.3% in December 2023 from the same period last year, according to the latest consumer price index released by the Statistics Korea. (Based on 2020=100)
In detail, the price index for digestive medications soared by 11.4% from the same period last year, the only double-digit increase.
Following digestive medications, oral disinfectants recorded a close to 10% increase of 9.8%, followed by cold medications at 9.4%. Oriental medicines saw an increase of 8.4%, vitamin products 7.3%, painkillers 6.0%, and skin disease medications 5.0%.
Anti-inflammatory drugs followed with an increase of 3.7%, followed by antitussives at 2.85% and gastrointestinal medicines at 2.2%. Prescription drugs and hospital medications each fell by 1.5% and 1.4%, respectively.
Since the COVID-19 pandemic began in 2020, the price index for cold medications has risen the most.
Cold medication prices have reached a 124.06 index (2020 = 100), followed by painkillers (117.48), digestives (116.65), and oriental medicines (115.38).
Anti-inflammatory drugs, oral disinfectants, and vitamin products were over 110, with anti-inflammatory drugs at 113.47, oral disinfectants at 112.03, and vitamin products at 111.43.
Furthermore, antitussive, skin disease medication, and gastrointestinal medicine all exceeded 100, with antitussive at 108.81, skin disease medication at 106.66, and gastrointestinal medicine at 105.53. However, prescription drugs and hospital medications fell from 2020 levels to 96.13 and 95.60, respectively.
