Menu Content
Go Top

Economy

Agricultural Prices Rising, Adding to Household Burden ahead of Holiday

Written: 2024-02-04 12:58:02Updated: 2024-02-04 13:13:57

Agricultural Prices Rising, Adding to Household Burden ahead of Holiday

Photo : YONHAP News

Agricultural prices are on the rise, despite a slowdown in the cost of dining out and the prices of processed food products, adding to the burden on household budgets ahead of this week's Lunar New Year holiday.

According to Statistics Korea on Sunday, the consumer price index of agricultural, livestock and fisheries products last month stood at 122-point-71, up eight percent from a year earlier.

That is about two-point-eight times the overall average inflation of two-point-eight percent.

Prices of fruits jumped 28-point-one percent, about ten times the overall average. Apple prices rose 56-point-eight percent, peaches jumped by 48-point-one percent, and pears increased by 41-point-two percent.

Prices of grains and vegetables also rose nine-point-two and eight-point-eight percent, respectively, with those of green onions spiking by the largest 60-point-eight percent.

Ahead of the holiday, the government has pledged to inject 84 billion won, or around 63 million U.S. dollars, to expand supplies of 16 key items on seasonal demand, such as apples, pears and beef, while offering various discounts.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >