Paris Baguette-price hike

▲ A Paris Baguette franchise store in Seoul (Yonhap)

SEOUL, Aug. 14 (Yonhap) -- Paris Baguette, a bakery brand operated by South Korean food and beverage company Paris Croissant Co., said Friday it will raise prices of 127 products amid rising raw material costs.

The company said it will raise prices of 86 bread products, and 41 cake and dessert products by an average of 5 percent, starting Tuesday, marking its first price increase in 18 months.

"The decision was inevitable as raw material prices and other costs have sharply increased," the company said.

The move follows recent price increases by other food companies seeking to pass higher costs on to consumers.

BR Korea Co., the local operator of Dunkin' Donuts, raised prices of 39 doughnut products by an average of 6.5 percent from Aug. 2, citing higher costs.

CJ Foodville, the food service arm of entertainment and food conglomerate CJ Group, also raised prices of 76 products by an average of 8.2 percent from July 31.

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