Industry | 2024.01.26 15:30
[세종=뉴스핌] Reporter Lee Jeong-ah = With this year’s Lunar New Year holiday approaching in two weeks, it seems that the price of tableware for celebrating the Lunar New Year has reached an all-time high.
With international oil prices and external geopolitical risks on top of this, the government’s target of inflation in the 2% range seems a long way off.
◆ Apples and pears worth their weight in gold… The government releases 40,000 tonnes of government stockpiles in one week
According to the Ministry of Strategy and Finance on the 26th, the average price of 16 major seasonal products in the three weeks before this year’s Lunar New Year was 3.2% lower than a year ago, but the prices of apples and pears increased by 16.2% and 16.8% , respectively, compared to a year ago due to last year’s poor harvest, showing strong prices It continues.
Korea Price Information, a specialist qualification research organization, also conducted a survey of the cost of ancient ritual tables in traditional markets and supermarkets, and found that the cost of setting up a ceremonial table for this year’s Lunar New Year was 281,500 won for a family of four. in traditional markets and earned 380,580 in supermarkets, breaking an all-time high. .
Specifically, among vegetables, the price of green onions (1 bunch) increased by 60% from 2,500 won last year to 4,000 won this year. Korea Price Information analyzed that the high price range was formed as supply decreased due to the recent cold wave. As the prices of fruit and vegetables, popular holiday items, rise by more than 20% compared to the previous year, ordinary people’s wallets are getting thinner.
As prices soar ahead of the Lunar New Year, the government has begun to crack down on Lunar New Year goods. The government held a meeting of deputy ministers related to prices on this day, and announced that it would supply 257,000 tons of 16 major products, the largest ever, by the 8th of next month.
In addition, in order to stabilize sky-rocket prices of apples and pears, 44,000 tons, or more than 60% of the government’s total supply, will be intensively supplied for the next week, and 100,000 Nonghyup fruit gift sets are sold at a discount of 15-20% compared to the market price.
The government will inspect the daily prices of 33 major items, including early Lunar New Year items and petroleum, for 10 days until the 8th of next month. The government aims to reduce the burden on shopping carts ahead of the Lunar New Year by checking price trends of major holiday items.
◆ International oil prices exceed the government’s forecast of $80… Price stability in the 2% range is difficult
However, as international oil prices, which have a significant impact on domestic prices, fluctuate, attention is being paid to see if prices will be able to get into the ‘2% range’ that it is. the government has declared. There are concerns that geopolitical risks such as those in the Middle East could lead to high prices again.
According to the Ministry of Strategy and Finance, the international oil price (Dubai) this week rose slightly from the previous month ($77.4) to $77.9 due to ongoing unrest in the Middle East and news of an increase in crude oil production from Libya and Norway . According to the latest New York Mercantile Exchange on the 25th (local time), the closing price of Dubai crude oil futures was $81.48 per barrel, exceeding the government’s forecast of $81.
In addition, as Yemen’s Houthi rebels continue to attack ships passing through the Red Sea, concerns about delays in crude oil supply and the risk of logistics disruptions are being resurrected. The Red Sea is the shortest sea route between Europe and Asia, and around 15% of the world’s maritime transport passes through the Red Sea.
As the fluctuations in international oil prices are reflected in domestic prices with a delay, signs of high prices are stirring again. Typically, when international oil and nuclear prices are unstable, import prices rise, which soon affects domestic prices.
Lee Bu-hyeong, director of the Hyundai Research Institute, pointed out that, “Recently, the possibility of war, such as between Russia and the Ukraine and the Red Sea, may arise from time to time. Meanwhile , there is even a normalization factor of domestic public utility bills, so the price index may appear higher than expected by the government.” .
In relation to this, an official from the Ministry of Strategy and Finance said, “We are currently closely monitoring the liquidity of international oil prices,” and added, “We intend to look at the January price index that will be released soon and taking countermeasures.”
plum@newspim.com
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