Food & Drink
Busan’s consumer prices surge 3.4% in March, driven by soaring fruit costs
haps Magazine Korea
April 4, 2024
apples (haps Magazine Korea)
In March, consumer prices in the Busan region surged by 3.4%, fueled by soaring fruit prices.
Winter fruits like pears, tangerines, and apples saw particularly sharp increases, with pear prices skyrocketing by 130%, marking the highest surge in 42 years.
Data from the ‘March 2024 Consumer Price Trends,’ released by the National Statistical Office and the Southeast Regional Statistical Office, revealed that Busan’s overall consumer price index reached 113.96, up 3.4% from the previous year.
This upward trend has persisted for eight consecutive months, with Busan ranking second highest among 17 cities and provinces nationwide.
The surge in agricultural product prices, notably fruits, was a major contributor. Agricultural product prices in Busan soared by 22.1% compared to the previous year, with fruit prices witnessing a staggering 43.2% increase.