now many grocery shoppers in south korea have been noticing an increase in food prices recently to
find out more about why prices are going up and which items are worst affected we have our chang
taeyeon in the studio so welcome tan great to see you zhang min so just hang on uh consumer prices
seem to be going up well jungling prices have increased and before i give you all the numbers
i'd like to share with you what some grocery shoppers told me about how this is affecting them
i can actually sense the rise in food prices and there's a burden when shopping for groceries
and when i check the receipt it seems the prices have gone up
others also said they have to check the price and think twice before putting items into the cart
because if they buy whatever they want the total price will be way more expensive than what they
were expecting and another concern is that now is the time for south korean families to gather
together and do kim jong making lots of kimchi to store ahead of the long winter when i say family
it's not a four person family it includes relatives too so when people make kimchi they
often make it for more than a dozen people so they have to buy tens or hundreds of cabbages depending
on the number of people but the cost of making kimchi has soared compared to the previous year
there are not many cabbages so it's more expensive so there are many people who can't do kimchi
others do it with radish but i still did came down with 36 cabbages three cabbages were ten thousand
won last year but this year there were eighteen thousand it was eight thousand one more expensive
while their condition was worse but i still had to do it for my children data from the korea price
research center shows that there was a spike in prices of kimchi ingredients the wholesale price
of cabbage stands at 3231 which is an increase of more than 48 percent on year experts say the
price of cabbage went up because of the weather as well as an outbreak of a bacterial soft rot
even garlic is eight thousand four hundred twenty five one per kilogram and that's a roughly thirty
percent increase on the air right that's a sharp increase taeyeon so is this the same for other
types of food that people often eat absolutely so prices of one of south koreans favorite foods
fried chicken has also gone up chicken brand kyuton has increased its prices by more than
eight percent one of its most popular menus honeycomb went up from eighteen thousand one to
twenty thousand one so twenty thousand one is about seventeen us dollars and as cartoon is
one of the leading brands in the market other fried chicken brands are also raising prices
even can tuna is more expensive with one raising the prices of 22 types of its tuna cans by
6.4 percent whole milk also increased its prices by more than five percent
so tend to tell us the consumer price index increased by how much so i mean surging global oil
prices all of south korea's cities and provinces saw a rise in consumer prices in the third quarter
of this year data released by statistics korea on monday shows that the consumer price index
in q3 edged up 2.6 percent from a year ago that is the biggest increase in nine and a half years
inflation was the worst in tolab province and jeju island at 3.2 percent but souls prices were
smaller as they were offset by the reduced cost of utilities and you mentioned oil prices right
and is that the reason for the rise in prices overall well the rise in oil and raw material cost
has led to a rise in production prices and that is also affecting the consumer prices
experts say that the rise in producer prices can affect consumer prices after one or two months
south korea's producer price index in october saw its fastest increase in 13 years the bank of korea
says the ppi last month spiked by 8.9 percent on year and tan will this make it much harder for uh
small business owners or vendors that is right so i went to a traditional market in
this whole to ask the sellers if they could feel that the producer cost had gone up
prices of water parsley seasoned pigweed pepper leaves pepper eggplant and cucumber
have all gone up she said the retail price of one cabbage used to be around 2001 but now
it's five thousand won which is a little over four dollars that is the highest price she's seen
in recent years and she added that some people have even given up buying vegetables for me as
well one vendor said there's not much revenue left considering the amount they pay for beef and pork
well livestock farmers will be having a hard time producing because of the rising the coastal feed
i can understand that the price of hanu or korean beef went up by 20 percent on year so people buy
less because it's pricey the prices of fish like halibut are also affected for a range of reasons
from climate change to a lack of labor and the shortage of uae affecting the distribution process
and taehyung before you go um is this a rise in producer prices only happening in south korea
well this is not only happening in south korea this is happening in other countries too including
the us and china raising concerns of global inflation so u.s producer prices went up 8.6
in october that's the highest figure in nearly 11 years it's driven by surging costs of gasoline and
motor vehicles suggesting that high inflation could persist for a while amid tight global
supply chains and for china producer prices jumped 13.5 percent on year the fastest pace in 26 years
it's due to the higher raw material costs and factory product production cuts following the cold
shortages in china although the power crunch there is not now starting to ease
following government measures all right taehan thank you for your report today my pleasure