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(MK News) Prices of major daily necessities continue rising

2012-02-07

16

Prices of major daily necessities in South Korea increased in December, giving more burdens to low-income class households, showed a report from the nation’s consumer protection agency.

 

Out of the 102 everyday consumer necessities monitored, prices for 69 products, or 68 percent, went up in December from a month earlier, the Korea Consumer Agency said Tuesday. Prices for 33 products fell or remained unchanged over the cited period.

 

Pork prices were significant among advancers. Pork belly surged early last year due to low supply after the outbreak of foot and mouth disease (FMD). The price retreated from July but rose again to 11.6 percent in December from the previous month.

 

Other advancers include starch noodle (4.6 percent), fish cake (4.1 percent), flavors (4.0 percent), coke (3.8 percent), onions (3.5 percent) and fermented milk (2.7 percent).

 

Decliners include Korean cabbages and radishes which showed a sharp drop for four months in a row thanks to favorable climate conditions and an increased output. In November, the price of cabbages and radishes fell 31.1 percent and 22.6 percent, respectively and further lost 16 percent and 8.6 percent in December, respectively. (2012.01.10 )

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