Prices Surge Due to Prolonged Heatwaves... Fears of 'Heatflation' Grow

[Anchor]

Vegetable prices have risen significantly compared to last month due to the prolonged heatwave. Concerns are growing that inflation may continue to rise because of the extreme heat.

Here is a report by reporter Hong Yeongjae.

[Reporter]

Lee Young-hee runs a restaurant at a traditional market in Seoul.

She worries every time she goes grocery shopping these days.

[Lee Young-hee / Restaurant Owner: I was buying these vegetables at the market this morning, and do you know what the vendor said? They told me, 'Prices went up a lot today.']

Due to the prolonged heatwave, the prices of vegetables vulnerable to the heat have risen across the board, with cucumbers—a key ingredient for gimbap—surging 59% compared to a month ago.

The price of zucchini, used as a garnish for knife-cut noodles (kalguksu), spiked 46% over the past month, while onions rose 10% and carrots 9%.

As poor crop yields were compounded by the heatwave and drought, the wholesale price of napa cabbage nearly doubled.

[Jang Gwi-bong / Vegetable Vendor: It's so hot that they aren't growing; they're melting. Things that used to cost about 2,500 won per bundle are now 5,000 or 6,000 won—almost double.]

The price of spinach has also doubled, and because it easily wilts in the heat, vendors cannot even display it outside.

[Jang Gwi-bong / Vegetable Vendor: Because the weather is hot, the spinach melts and it's impossible to display. We wrap it in newspaper and only provide it to customers who specifically ask for it.]

Seasonal fruits have not escaped the impact of the heatwave either.

Watermelon prices rose 13% over the past month, and peaches are easily softened by the heat, making it difficult to even sell them at full price.

[Geum Cheol-su / Fruit Vendor: When the peaches arrive and you touch them, they feel warm. The peaches absorb heat, so we have to sell them quickly. By the afternoon, we practically sell them with almost no margin.]

With inflation driven by the heat—so-called 'heatflation'—consumers' shopping baskets are getting lighter.

[Hong Seon-ja / Yangcheon-gu, Seoul: Vegetables like summer radishes, young radishes, and napa cabbage have gone up a lot. It's too burdensome to buy them, so we just buy cheaper alternatives instead.]

The government stated that recent vegetable prices remain relatively low compared to typical years, and announced plans to ease the burden on consumers by offering up to 40% government discounts at large supermarkets and traditional markets until the Chuseok peak season.

(Photo provided by: Kim Hak-mo | Video editing by: Park Ji-in | Design by: Hwang Se-yeon)
※ Please note: This article was translated by AI and may contain errors.