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Fruit and vegetable prices soar
South Korea
Monday 12 September 2011
MD
Bad weather caused a price increase which will be tackled through increasing imports.
Torrential rains in July, a typhoon and a long series of rains in recent weeks has led to higher prices for fruits and vegetables.
A poor harvest with declining production led to prices increasing. Consumer prices rose 4.7% in July and 5.3% in August, but
fruit and vegetables increased 35%.
Products such as red peppers, cabbages and radishes jumped. To calm prices, the government reduced import tariffs. It aims to fight against inflation and is prioritising price stabilisation.
Products such as red peppers, cabbages and radishes jumped. To calm prices, the government reduced import tariffs. It aims to fight against inflation and is prioritising price stabilisation.
source : yonhap news, the chosun ibo
