In March, the Busan region of South Korea experienced a 3.4% increase in consumer prices, driven predominantly by a significant rise in fruit costs. The most notable price hikes were observed in winter fruits such as pears, tangerines, and apples. Specifically, pear prices surged by 130%, representing the most substantial increase in 42 years.
According to the 'March 2024 Consumer Price Trends' report by the National Statistical Office and the Southeast Regional Statistical Office, the overall consumer price index for Busan stood at 113.96, marking a 3.4% rise from the previous year. This increase has been consistent for eight months, positioning Busan as the second highest among 17 cities and provinces in terms of price inflation. A critical factor in this trend is the sharp increase in agricultural product prices, particularly fruits, which have seen a 43.2% rise.
Source: korea.stripes.com
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