Food prices remain stable ahead of Chuseok holiday

Food prices remain stable ahead of Chuseok holiday


now the Chuseok holiday involves quite a
bit of spending for most people especially on food
last month inflation in Korea fell to a record low of zero maybe even less still
consumers say they don’t feel it when they head to the store Kim Jae Hee went
out to talk with some Chuseok shoppers markets are packed with customers
browsing for food to buy ahead of the Chuseok holiday they’re shopping for
food to put out for today a memorial ritual that Koreans performed to pay
respect to their ancestors during the tada ceremony meat rice fruits and other
food are placed on a ritual table cost a popular food items for the ceremony are
fairly stable this year a study of 18 traditional markets and 27 retail stores
across the country shows the average cost of items needed for arranging at at
a table this year dropped 1.1 percent on year when bought at traditional markets
for the retail stores it cost almost the same as last year essential Chuseok food
like beef pork and chestnuts all saw a slight drop in prices fruits like apples
also fell by more than 11 percent on-year
whereas pears saw an 8 percent increase in traditional markets
experts say oversupply may have led to the price fall of Chuseok commodities
fruits especially the apples and the pears and the peaches those products
that has been oversupply recently or previous years you know you will see
that sudden jump in the prices for fruits and vegetables but this year
quite opposite because of the oversupply however consumers say it’s hard to
notice the difference I don’t think the prices fell compared to before we have 4
to 5 members in our family and I think it’ll cost over 330 US dollars for Tatia
this year the prices seem the same even if Chuseok comes only once a year it’s
still a large burden for families since everything is so expensive I try to cut
down on things but it’s hard the difference between the real price
changes and what consumers actually feel is because consumers are more sensitive
to price of things day by more frequently
consumers depend on their respective experiences when judging prices this
eventually leads to a gap between the real price index and what consumers feel
about the prices the experts added that while there remains the possibility of
price changes due to the recent typhoon mingling he expects prices to remain
fairly stable throughout the holiday kim daehee
arirang news

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