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Grocery prices soar by about 16% y/y ahead of Lunar New Year holiday

Prices of fruit, vegetables and meat are spiking in stores and markets across the country ahead of the Lunar New Year holiday. According to the Korea Agro-Fisheries and Food Trade Corporation, people are expected to pay about 16 percent more for groceries this year. When buying food for a Charye table to pay respect to their ancestors… South Koreans who shop at traditional markets will spend an average of 230 U.S. dollars. But when shopping at a large retail store, the same items needed for a Charye table will cost around 330 dollars. Prices of apples and pears are seeing big jumps at over

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