Belt-tightening among South Koreans is continuing for an unprecedentedly long period with no rise in household income.

According to Statistics Korea on Tuesday, spending by families with two or more members on groceries and nonalcoholic drinks fell three-point-two percent year-on-year between July and September of this year.

Spending on such items has posted a continuous decline since the fourth quarter of last year, marking the longest drop since related statistics began to be collected in 2003.

The inflation-adjusted actual spending for foodstuffs and nonalcoholic drinks fell five-point-one percent in the third quarter, posting a decline for a year.

Consumption of staple foods, including rice and meat, as well as that of coffee, which is widely popular, was also shown to be shrinking. Many South Koreans are also not opting to buy clothes.

Market observers say the latest contraction in consumption is more serious compared to the 2008 global financial crisis. Observers say if consumer sentiment does not pick up soon, domestic demand will suffer significant blows.