SEOUL, Dec. 3 (Xinhua) -- South Korea's single-person households cut consumption due to higher housing expenses and unstable job conditions, a central bank report showed Tuesday.

The proportion of one-person households to the total reached 35.5 percent in 2023, continuing to climb from 23.9 percent in 2010 amid delayed marriages and the rapidly aging population, according to the Bank of Korea (BOK) report.

Consumption propensity, or the ratio of consumption expenditure to disposable income, for single-person households retreated by 5.8 percent between 2019 and 2023, marking the fastest slide among all households in the country.

It was followed by three-member households with a decline of 4.3 percent and two-member households with a fall of 2.5 percent in the cited period.

The lower spending for single households was attributed to higher house-related costs, including rent and power bills, especially for young people and fewer temporary jobs for elderly people.

Of the single households, those aged 60 and older accounted for the highest share of 36.4 percent, trailed by those aged 29 and younger with 18.6 percent in the country. Enditem

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