Fresh Produce Scarcity Pushes up Consumer Prices

  • Arirang News

    September 05, 2017 09:16

    The effects of a long, wet summer are being reflected in price tags in the grocery store. Consumer prices jumped 2.6 percent on-year in August, the biggest increase since April 2012.

    Statistics Korea attributed the rise to the floods and heat waves over the summer, which pushed up the prices of fresh fruit and vegetables by almost 23 percent on-year.

    According to the Korea Agro-Fisheries and Food Trade Corporation, the wholesale prices of cabbage in August soared 55 percent from the previous month. Wholesale prices of apples also rose nearly 16 percent.

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