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Apple prices nearly doubled compared to last year

Posted April. 03, 2024 07:41,   

Updated April. 03, 2024 07:41


Last month, apple prices soared once again, surpassing even the surge observed in February during the onset of the 'golden apple' controversy. Amidst escalating prices of agricultural, livestock, and fishery products, coupled with fluctuating international oil prices, the consumer price inflation rate remained at around 3% for the past two months.

Statistics Korea's consumer price trends report on Tuesday revealed an 88.2% increase in apple prices last month compared to the same period last year. This surge exceeded the rise observed in February (71.0%) and marked the highest level recorded since statistics began in January 1980. Additionally, other popular fruits experienced similar price spikes, with pears witnessing an 87.8% increase from the previous year, the largest surge ever recorded. Tangerines rose by 68.4%, while persimmons saw a 54.0% increase.

The prices of all agricultural, livestock, and marine products, including fruits, surged by 11.7%, marking the highest increase in two years and 11 months. Additionally, food service prices experienced a significant jump of 3.4%. Overall, consumer prices last month rose by 3.1% compared to the previous year, marking a consecutive increase in the 3% range for two months following February's 3.1% rise.

President Yoon Suk Yeol chaired the cabinet meeting on that day and announced, “We will allocate unlimited and indefinite emergency funds for stabilizing agricultural and livestock product prices until shopping cart prices stabilize and citizens feel the impact.”

세종=송혜미 1am@donga.com