 |
| A customer looks at fruit at a traditional market in Gwangju, Monday. Yonhap |
By Kim Jae-heun
A 33-year-old housewife surnamed Park could not believe how much food prices have gone up while shopping for groceries for the Lunar New Year holiday, which falls on Jan. 22 this year.
"I spent 100,000 won ($81.03) more than last year. All the prices increased, from meat to fruits and vegetables. I only purchased what I needed and just the right amount and it still cost me more," Park said.
A 59-year-old large retail store employee surnamed Kim said she only bought half as much food as she purchased for last year's Lunar New Year.
"If I bought 10 apples last year, I only got five today. For example, I need three pears to put on the table for the memorial ceremony and would buy a few more to eat with my family in other years. But this year, I bought only three. The inflation is really killing me," Kim said.
Consumers who went shopping for groceries two days before the long weekend begins could not stop sighing after seeing the price tags of foods at both retail stores and traditional markets. A tray of eggs, which cost about 5,000 won last year, has increased to nearly 7,000 won.
According to the Korea Price Information, the costs of preparing for the Lunar New Year ancestral rites has increased by 2.1 percent and 4.1 percent at retail stores (359,540 won) and traditional markets (254,500 won), respectively, year-on-year. It is the highest inflation in recent years. Due to the war in Ukraine, prices of agricultural products and processed foods like snacks have all soared.
Many shoppers were hunting for cheaper brands or discounts. Some looked for "buy one, get one free" sales promotions.
At Huam Traditional Market in Seoul, consumers were bartering on the price of meats and they were not purchasing any expensive special cuts.
"Before, we had many phone calls asking for preorders of high-priced ribeye. But this year, almost none. I think the living cost got worse than early in the COVID-19 pandemic," said a butcher surnamed Lee at the traditional market.
