Korea's Engel's coefficient, or the proportion of household spending that goes to buy food, rose to an eight-year high in the second quarter.

According to the Bank of Korea on Tuesday, the nation's households spent W19.4 trillion (US$1=W1,179) on food in the April-June period, accounting for 13.3 percent of total household expenditures of W145.9 trillion. The figure is just below the high of 13.8 percent set in the third quarter of 2001.

The rise is attributable to the recent hike in food prices, which climbed 4.4 percent in August from a year earlier. Fishery and agricultural products increased 8.9 percent overall, with fruit and vegetables in particular rising 20 percent.