World food prices are at their highest level in 10 years, rising domestic food prices stimulated again in South Korea

Published 2021년 11월 8일

Tridge summary

The article reports a significant increase in global and domestic food prices, with the World Food Price Index reaching its highest level in 10 years. International prices for grains, oils, meats, dairy, and sugar have all surged, leading to an increase in the prices of processed food and eating out costs. South Korea has seen a 3.2% rise in food prices compared to the previous year, with items like sashimi and chicken experiencing the highest increases. The situation has raised concerns about potential stagflation, with experts cautioning that further price hikes are expected to impact the Korean economy.

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Original content

World Food Price Index up 31% in one year... Grain prices such as wheat and maize rose by 22% Domestic dairy products and ramen prices are also increasing… Kimjang-cheol salt price rose 24% in one year Food prices rise as processed food rises Expert: “Food prices rise sharply amid concerns about stagflation, increasing the suffering of ordinary people” The price of six cucumbers is displayed at 4,900 won at a traditional market in Seoul on the 7th, with the price of cucumbers rising 3.8% from a year ago last month. Following agricultural products, the price of major processed foods also rose sharply last month, increasing the cost of shopping carts for ordinary people. By Song Eun-seok, reporter silverstone@donga.com World food prices are expected to soar to the highest level in 10 years, further boosting the skyrocketing shopping cart prices. While food companies have recently increased the prices of processed foods such as ramen, sweets, and beverages one after ...

Source: Donga