New international data shows that U.S. consumers pay far less for food than South Koreans — one of Asia’s richest nations — even as inflation dominates headlines.
Take Starbucks, for example. A tall latte costs $3.26 in the U.S., while the same drink sets you back $4.11 in Seoul.
That’s a 26% premium, and it’s not just coffee — the price gap extends across most food categories, according to April data from business research firm Switch on Business.
The findings flip a common perception among Americans: that food has become painfully expensive.
Yes, prices are up — but globally, U.S. groceries are still some of the most affordable.
South Korean shoppers pay anywhere from 4% to 40% more for staples, and even higher than consumers in Italy ($2.84 for a latte), Australia ($3.67), and Canada ($3.85). “I thought coffee in the U.S. would be more expensive than Korea because of inflation,” said a 41-year-old South Korean traveler.
“But I was surprised to find it was the same or even cheaper.” OECD data backs this up.
On the organization’s 2023 price index, the U.S. scored 94 — below the average of 100 among wealthy nations. South Korea? A staggering 147, meaning consumers there pay about 1.5 times more than the global norm.
Only Switzerland topped Korea in food costs. And it’s not just a nationwide trend. Seoul ranked eighth worldwide for grocery prices in Deutsche Bank’s June city survey.
Only five U.S. cities — New York, San Francisco, Boston, Chicago, and Los Angeles — plus Zurich and Geneva in Switzerland came in higher. Across the board, U.S. cities offer cheaper groceries than Tokyo, London, Paris, Sydney, or Hong Kong.
