United Kingdom: Food price spikes, see inflation rear its head in emerging markets

LONDON: For Cleanne Brito Machado, like millions of people in developing countries around the world, shopping for staple foods such as rice, beans, oil or potatoes now means making hard choices. "The shopping cart is getting much smaller and we're paying much more," said the 41-year old, who works as a maid in Brazil's capital Brasilia. "We've had to give up on little trips, visiting family at the weekend, and we haven't been able to save any money for emergencies or to have in the bank." A mix of currency depreciation, rising commodity prices and coronavirus disruptions saw food inflation soar 14per cent last year in Latin America's largest economy - the biggest increase in nearly two decades. The headline figure masks hikes in staples, such as a 76per cent jump in rice or a doubling of soy oil prices. Other developing countries from Turkey to Nigeria also recorded double-digit jumps in food inflation. Major wheat and corn exporters such as Russia or Argentina have introduced ...