Korean society has been changed drastically during the last couple of decades and the change would affect the way consumers consume. Analyzing changes in Consumer Price Index during 1990-2010, this study provided understanding of the changes in househ...
Korean society has been changed drastically during the last couple of decades and the change would affect the way consumers consume. Analyzing changes in Consumer Price Index during 1990-2010, this study provided understanding of the changes in household consumption expenditure pattern during the same period. The items and weights that are used to calculate the index have been revised on a 5-year basis to reflect the changes in consumption pattern of urban households. Therefore, by analyzing the changes in items and weights used for the index, we can infer the current picture of consumption expenditure. An analysis on Consumer Price Index showed that household consumption expenditure on necessities such as foods, clothes, and housing decreased during the 1990-2010 whereas expenditures in other categories such as private education, personal transportation, communication, and leisure services increased. And exceptionally the items and weights for eating-out and services for housework increased distinctively from the overall reduction in food and housing categories. Those changes in Consumer Price Index explained the noticeable changes in consumption expenditure pattern in Korean society during 1990-2010 such as socialization of traditional housework, convenience- seeking tendency, fever in leisure activities and private education, and drastic changes in the way of enjoying media and communication owing to smart phone.