Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

South Korean fruit and vegetables hit hardest by inflation

South Korea saw sharp price increases in food items last year, with fruits and vegetables making up the majority of the top 10 most inflation-affected goods, according to data from Statistics Korea.

Among 458 consumer price index items, Asian pears recorded the steepest price hike, soaring 71.9% in 2024 due to low stock levels from 2023 combined with extreme weather events, including heavy rain and heatwaves, which reduced supply.

Tangerines followed with a 46.2% increase, as poor harvests in the latter half of the year and rising demand for alternative fruits drove up prices. Persimmons (36.6%) and apples (30.2%) also saw significant price jumps, similarly impacted by climate-related disruptions.

Other food items that experienced major price hikes included cabbage (25.0%), radishes (24.5%), dried seaweed (21.8%), tomatoes (21.0%), and carrots (20.9%), making food inflation a dominant concern for consumers. The only non-food item in the top 10 was computer repair costs, which rose 30.1%, driven by higher electronic component prices and increased labor costs.

Read more at Korea Biz Wire

Publication date: