Lettuce gets 60% more expensive...The low-income economy 'wrinkles' due to rising vegetable prices

[Anchor]
Consumer prices in Jeju have stabilized with a 0% increase for two consecutive months.

However, the burden on the common people is not going away as vegetable prices continue to rise and oil prices are expected to rise due to the reduction of the oil tax cut rate.This is Kim Ji-woo from KCTV Jeju Broadcasting in the

report.

[Reporter]
Consumer prices in Jeju rose 0.7% last month compared to a year ago.

It was the same as last September's gain, which was the lowest in three years and eight months since January 2021.

From January to July this year, consumer price growth in the province remained around 2%, entering a relatively stable phase.

It slowed to 1.6% in August and has continued to rise to the 0% range for two consecutive months since September.

In terms of consumer price growth by item nature, agricultural, livestock and fisheries products recorded 1.6%, electricity gas water also recorded 0.3%, and services recorded 1.5%.

Industrial products, on the other hand, fell 0.9%, led by oil prices such as gasoline and diesel.

However, despite the price stability, the burden of table prices remains.

This is because vegetable prices continue to be strong.

Broccoli saw a triple-digit rise last month, while young radishes, lettuce, tomatoes and radishes also rose higher than 60%.

Cabbage, which was even controversial in the so-called "gold cabbage," is increasing the burden of kimchi-making season by showing a 20% increase.

As a result, vegetable inflation was 20.3% last month, the highest in two years and two months since August 2022.

[Kim Ji-beom/ Head of Economic Research Team at Jeju Office, Statistics Korea: Consumer prices in Jeju fell to their lowest level for two consecutive months in October. The results are attributed to a drop in agricultural prices last summer due to a decrease in production shipments caused by heat waves and heavy rains, but the oil tax cut, which was extended until the end of October, along with a drop in oil prices.]

The government explained that price stability is strengthening, but the economic cold of the common people is expected to continue this winter as vegetable prices have been greatly shaken and the oil tax cut rate has been reduced from this month.

I'm Kim Jiwoo from KCTV News.


Video coverage: Park Byung-joon
Graphic: Song Sang-yoon