Food prices doubled this year

[Sir Legend]

The pandemic made the economy run slowly and agricultural production in my country became difficult, the extreme weather that occurred in the dry season since the beginning of the year made many farmers fail to harvest so that the price of food skyrocketed, this is a serious problem so the government's active role is needed to keep food prices stable.

[1714862098]

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[1714862098]

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[DrBeer]

I wonder if there are countries where, as a result of the pandemic, the economy rebuilt on a "critical track", which led to a decrease in prices due to a decrease in the global purchasing power of the population caused by the consequences of a global pandemic?

In our far from ideal economy, in Ukraine, prices have also increased recently, and "in all directions". From food and medical supplies to utility prices. Plus, in 2021 another rise in property prices began, which looks rather strange

How much of this increase is due to inflation? I know that the national currency (UAH) is prone to inflation, but the exchange rates seems to be stable for the last few years (in fact I could see strengthening of UAH against USD since the beginning of this year). So how much is retail inflation in Ukraine? Is it very high, like 20%-25% something? Here in my country (Singapore) also we are witnessing an increase in inflation rate, but this was mostly blamed on the increase in petroleum and natural gas prices.

A very good but difficult question ...
Nominally, for the last 5 years we have not had noticeable inflation (fluctuations in the range of 25-28 UAH / dollar), and in the last half of the year there has even been deflation (a drop in the exchange rate from 28 to 27). At the same time, there is also an increase in the minimum pension, the minimum wage - from 2014 to 2021 it increased from the level of UAH 1,218 to UAH 6,000. But you probably know that our companies often pay salaries in 2 parts - the first part is "official" (usually at the level of the minimum wage or slightly higher) and the second - "in an envelope", unofficial and most. The first, smaller part is the tax-generating part. Yes, this is a systematic tax evasion, but this is bad ... There was also a period of fairly active economic growth (2015-2019, the previous president) and the filling of state funds, now there is deflation, but most likely it is "manual" because under the new President, the economy began to "slide to the bottom", state revenues fell dramatically, but so far they are trying to manually create the appearance of "stability". If we compare prices for basic food products, medicines, then prices in 2019 were about 1.5-2 times lower than now .. Plus, the new government again untied the oligarchs' hands, who again monopolize the market for heat carriers, electricity, which led to a noticeable increase utilities 1.5 - 2 times. True, we have a system of state compensation for low-income people, which allows low-income people to level their utilities. In fact, the state pays for these services ... But as we know, "There is no" state money ", there is only taxpayers' money" (c) Margaret Thatcher.
In total, it seems to be not bad, but if you look at it, then there are problems on the horizon and significant ones if we do not take measures.

PS Oh! Singapore! I traveled a couple of times towards Indonesia / Bali, flew both times through Singapore, always stopped for a couple of days - Sentosa Island, Orchid National Park, architecture, ... A very interesting country!

[STT]

The only real way to combat higher food prices is with supply, we can speculate shorter term market moves but ultimately the world population is rising and becoming more developed which means more meat over just simple vegetables and meat takes more production also.   I see a commodity boom as part of the price rises because food production requires certain commodities in aiding food growth.   Generally commodity growth takes place over decades, the currency we know is not going to become stronger within this decade or even the next as there is too much debt so that all equates to long term price rises beyond anyones control.   Only production can stop supply raising prices far more then we have seen already.

"There is no" state money ", there is only taxpayers' money"

Most governments work in a fiscal deficit which means all taxes go towards costs immediately, there is no idea of investment just a leaky connection siphoning money from the economy with the added losses from costly government administration of that spending.

[Sithara007]

The pandemic made the economy run slowly and agricultural production in my country became difficult, the extreme weather that occurred in the dry season since the beginning of the year made many farmers fail to harvest so that the price of food skyrocketed, this is a serious problem so the government's active role is needed to keep food prices stable.

Here in India, at least during the first phase of the pandemic agricultural activity was disrupted. Most of the agricultural laborers come from eastern states like Bihar and Bengal, while the western states like Punjab and Haryana have the maximum agricultural output. Due to the lockdowns and other restrictions, many of these laborers went back to their home-state and it was not possible for the farmers from the western states to harvest their produce and prepare for the next crop on time. This caused a big reduction in agricultural output. That said, there was no noticeable increase in food prices in India despite this.

[DrBeer]

The only real way to combat higher food prices is with supply, we can speculate shorter term market moves but ultimately the world population is rising and becoming more developed which means more meat over just simple vegetables and meat takes more production also.   I see a commodity boom as part of the price rises because food production requires certain commodities in aiding food growth.   Generally commodity growth takes place over decades, the currency we know is not going to become stronger within this decade or even the next as there is too much debt so that all equates to long term price rises beyond anyones control.   Only production can stop supply raising prices far more then we have seen already.

If we talk about the grocery market, there is a rather interesting situation here. I do not guarantee that such "logic" works on the market in all countries. So, the situation is this - producers of agricultural products (raw materials for food) work constantly and almost without stopping, without much influence of the covid, well, except that floods can stop sowing / harvesting work. Whatever the situation was, they are actually guaranteed to sell the results of their work at an acceptable price for them. there is no overproduction! Moreover, this price will include fertilizers, changes in the cost of licenses, and the purchase of new equipment or storage facilities, and of course new agricultural equipment. But for food producers, it is much more difficult - firstly, their work is influenced by covid, the purchasing power of the population and restrictive measures during a pandemic, etc. Those. they have to incur large losses, and then compensate for their increase in the added value of the product. Plus, retail chains, which also suffered significant losses over the past 2 years, are also increasing their "premium" due to a decrease in purchasing activity. So it turns out - from raw materials to finished products, there is a rise in prices everywhere, which has always been, and now it is more pronounced as a result of global economic problems.

[Ucy]

Another problem I observed recently that could contribute to high food price is Lies and Rumors. If you bombard the ignorant ones with lies that things are high while they not, the foolish ones would believe without investigation, this will give the greedy ones (and those who can't compete) the opportunity to increase prices without any justification. I think real competition always take care of this though,as the increase is "artificial"

I remember someone claiming that his beef is expensive because 1 Cow has more than tripled in price, I quickly investigated and discovered that a cow is still at normal price, way below the price the beef seller claimed.

Always make sure you buy things at the price they are really worth to avoid contributing to the inflation. This will also make you a wise spender when everyone is wasting his/her money and having less while complaining for more money to buy/spend more recklessly.


There are seasons when certain foods are typically expensive, after that they become cheap or less than what they were worth before. This should be considered too.  
Prices remain OK here.

[bakasabo]

Always make sure you buy things at the price they are really worth

Did you know that iphone 13 was announced yesterday? Tell me where can I buy it for retail price or just by the price of hardware+time employee spent assembling. I really want to buy it "at the price they are really worth".

I remember someone claiming that his beef is expensive because 1 Cow has more than tripled in price, I quickly investigated and discovered that a cow is still at normal price, way below the price the beef seller claimed.

So you have compared the price of a "final product" (beef) vs "raw product" (cow itself, feeding cow during X years, all other processes) and see no difference?

I cant say that the prices in my country doubles, also they remained the same as they were last year for a long period. But starting from mid summer, I see a significant growth on some products. These are the products with short storage period. For example milk products, eggs prices gained about 20%.

[jossiel]

The pandemic made the economy run slowly and agricultural production in my country became difficult, the extreme weather that occurred in the dry season since the beginning of the year made many farmers fail to harvest so that the price of food skyrocketed, this is a serious problem so the government's active role is needed to keep food prices stable.

It is because many have been stopped and ordered to stay at our homes. So usually those that are in places that are too crowded, just can't go outside.

But for agriculture, I think that they're free to do so since most of the lands are from crowded areas and cities. But where the slow down started is because many have been laid off with their jobs and don't have much money to spend which led to those agri products to oversupply and yes, the weather is the biggest factor too.

[syedakhlaque]

The food Prices has increased nearly in all country. The covid-19 has shaken the economy of the world. The whole world has to bear its side effect. In my country  Pakistan, it has become difficult to survive for the middle & low class. Not only food prices have been doubled but all other commodities, necessities of life even medicine prices have been tripped. Everyone worries to see the awkward conditions and it has become hard to live.

[bryant.coleman]

A very good but difficult question ...
Nominally, for the last 5 years we have not had noticeable inflation (fluctuations in the range of 25-28 UAH / dollar), and in the last half of the year there has even been deflation (a drop in the exchange rate from 28 to 27). At the same time, there is also an increase in the minimum pension, the minimum wage - from 2014 to 2021 it increased from the level of UAH 1,218 to UAH 6,000. But you probably know that our companies often pay salaries in 2 parts - the first part is "official" (usually at the level of the minimum wage or slightly higher) and the second - "in an envelope", unofficial and most. The first, smaller part is the tax-generating part. Yes, this is a systematic tax evasion, but this is bad ... There was also a period of fairly active economic growth (2015-2019, the previous president) and the filling of state funds, now there is deflation, but most likely it is "manual" because under the new President, the economy began to "slide to the bottom", state revenues fell dramatically, but so far they are trying to manually create the appearance of "stability". If we compare prices for basic food products, medicines, then prices in 2019 were about 1.5-2 times lower than now .. Plus, the new government again untied the oligarchs' hands, who again monopolize the market for heat carriers, electricity, which led to a noticeable increase utilities 1.5 - 2 times. True, we have a system of state compensation for low-income people, which allows low-income people to level their utilities. In fact, the state pays for these services ... But as we know, "There is no" state money ", there is only taxpayers' money" (c) Margaret Thatcher.
In total, it seems to be not bad, but if you look at it, then there are problems on the horizon and significant ones if we do not take measures.

PS Oh! Singapore! I traveled a couple of times towards Indonesia / Bali, flew both times through Singapore, always stopped for a couple of days - Sentosa Island, Orchid National Park, architecture, ... A very interesting country!

Interesting that you mentioned that most of the companies pay income in two parts, to avoid taxes. I have heard about this from Russia, but not from any other country. Here in Singapore, doing so is not beneficial for the company. Because salary paid to the employee is exempted from corporate tax. For the employee, it may be beneficial, because he doesn't need to show the amount in the tax return. Are the income tax level extremely high in Ukraine, for the employees to resort to such practises? I did a quick search, and it shows that the top slab is only 18% (which is around one-third of the top slab in the US).

[DrBeer]

A very good but difficult question ...
Nominally, for the last 5 years we have not had noticeable inflation (fluctuations in the range of 25-28 UAH / dollar), and in the last half of the year there has even been deflation (a drop in the exchange rate from 28 to 27). At the same time, there is also an increase in the minimum pension, the minimum wage - from 2014 to 2021 it increased from the level of UAH 1,218 to UAH 6,000. But you probably know that our companies often pay salaries in 2 parts - the first part is "official" (usually at the level of the minimum wage or slightly higher) and the second - "in an envelope", unofficial and most. The first, smaller part is the tax-generating part. Yes, this is a systematic tax evasion, but this is bad ... There was also a period of fairly active economic growth (2015-2019, the previous president) and the filling of state funds, now there is deflation, but most likely it is "manual" because under the new President, the economy began to "slide to the bottom", state revenues fell dramatically, but so far they are trying to manually create the appearance of "stability". If we compare prices for basic food products, medicines, then prices in 2019 were about 1.5-2 times lower than now .. Plus, the new government again untied the oligarchs' hands, who again monopolize the market for heat carriers, electricity, which led to a noticeable increase utilities 1.5 - 2 times. True, we have a system of state compensation for low-income people, which allows low-income people to level their utilities. In fact, the state pays for these services ... But as we know, "There is no" state money ", there is only taxpayers' money" (c) Margaret Thatcher.
In total, it seems to be not bad, but if you look at it, then there are problems on the horizon and significant ones if we do not take measures.

PS Oh! Singapore! I traveled a couple of times towards Indonesia / Bali, flew both times through Singapore, always stopped for a couple of days - Sentosa Island, Orchid National Park, architecture, ... A very interesting country!

Interesting that you mentioned that most of the companies pay income in two parts, to avoid taxes. I have heard about this from Russia, but not from any other country. Here in Singapore, doing so is not beneficial for the company. Because salary paid to the employee is exempted from corporate tax. For the employee, it may be beneficial, because he doesn't need to show the amount in the tax return. Are the income tax level extremely high in Ukraine, for the employees to resort to such practises? I did a quick search, and it shows that the top slab is only 18% (which is around one-third of the top slab in the US).

This is all the legacy of the "Soviet mentality"
The problem is that people, for the most part, do not understand what the tax system of the state is ... Then a period of real lawlessness was added in the legalized period of denial of the tax system as such ... It will be very difficult to understand for people who lived in countries with established legislative traditions , like you. In our country, in a significant part of the territories of the former USSR, the concept of taxes has been perverted, and people still consider it a norm not to pay them! No, not to optimize, namely not to pay! Hence the problems with filling the budget, with social programs and other things that are based on taxes. You yourself have seen that the level of income tax, compared to other countries, is not great, but the "tradition" of not paying and trying to cheat is still very strong. This is a huge problem. It takes place in Ukraine as well ... People have low loyalty to the state and there is no understanding that it is you who form many state programs with your taxes! This is a sore subject of our state and our population ... And the roots of this problem have grown very deeply in the mentality of people and in the habits of business in Ukraine! Yes, there are companies that are quite "white" in terms of paying taxes and fiscalizing income, but they are not even 50%

[Fatunad]

The food Prices has increased nearly in all country. The covid-19 has shaken the economy of the world. The whole world has to bear its side effect. In my country  Pakistan, it has become difficult to survive for the middle & low class. Not only food prices have been doubled but all other commodities, necessities of life even medicine prices have been tripped. Everyone worries to see the awkward conditions and it has become hard to live.

Could say that the pandemic did really give out some effect or somewhat fasten it out but lets put into the situation on where this pandemic didnt actually happen? For sure we would still see the same scenario.
Essentials become expensive and other things since cost of materials had increased as well.Making out some comparison prices from past and the present then you could actually see the notable differences of those numbers.
Wont really be surprised if there would be another price hike or changes or increase in next years to come despite of the current situation we are in.

[Sithara007]

Could say that the pandemic did really give out some effect or somewhat fasten it out but lets put into the situation on where this pandemic didnt actually happen? For sure we would still see the same scenario.
Essentials become expensive and other things since cost of materials had increased as well.Making out some comparison prices from past and the present then you could actually see the notable differences of those numbers.
Wont really be surprised if there would be another price hike or changes or increase in next years to come despite of the current situation we are in.

I would agree with you. In my country, there was only a slight spike in inflation, and that was probably due to the rising oil prices (Brent crude prices have almost doubled in the last 6-7 months and this has a serious impact on all the sectors of the economy). There was no increase in the prices of any commodity purely due to COVID. And for the manufacturers, it will be detrimental if they increase the prices. As a result of the pandemic, there is a reduction in the level of disposable income for most people. If the prices are increased, then the consumption will go down.

[LUCKMCFLY]

Anyone know if hyperinflation comes on slowly or all at once?  That's what I'm worried about.

It comes all at once when governments are interventionism adepts. That means they mask the economical scenario maximum as possible to give a false impression everything is fine. They artificially control prices, print money often, increase public expenses (like you said regards Biden's policy of giving free money). As such measures are useless and don't solve any issues, at some point the situation becomes unsustainable and hyperinflation hits aggressively.

Irresponsible, populist public policies turn economical crisis into a snowball downhill increasing in size after each spin and destroying everything on its way.

It is correct, you can also see the case of Venezuela, which was totally destroyed, in 20 years, that was how long it took for the economy of an entire country to collapse, in addition to having a totally out-of-the-box political model. Commonly, the gross domestic product was the first objective that they dedicated themselves to exploiting, normally governments of that style begin to take things away little by little, that is, they begin to attack small and medium industries saying that the government will protect them. , and that they will distribute the profits, then they take away their freedoms, such as watching some TV channels, expropriating land, companies, this is how the economic decline begins and therefore the liquidity of a country is falling and therefore they begin devaluations of the local currency.

[Ridi]

The food Prices has increased nearly in all country. The covid-19 has shaken the economy of the world. The whole world has to bear its side effect. In my country  Pakistan, it has become difficult to survive for the middle & low class. Not only food prices have been doubled but all other commodities, necessities of life even medicine prices have been tripped. Everyone worries to see the awkward conditions and it has become hard to live.

Could say that the pandemic did really give out some effect or somewhat fasten it out but lets put into the situation on where this pandemic didnt actually happen? For sure we would still see the same scenario.
Essentials become expensive and other things since cost of materials had increased as well.Making out some comparison prices from past and the present then you could actually see the notable differences of those numbers.
Wont really be surprised if there would be another price hike or changes or increase in next years to come despite of the current situation we are in.
[/quote
Yes right in pandemic situations changed essentials become expensive hoped everything will be fine as it was before covid .

[Maeve@]

This problem is caused by this epidemic. The scale of this virus is huge and unprecedented. The virus prevents us from working normally. There will be problems in natural food. This virus not only affects us humans, but also animals, restricting us. The efficiency of work leads to a shortage of goods, and natural prices will rise.

[raidarksword]

Due to the pandemic, it's all expected that price will be double because supplies are low and demand is very high that's why we cannot argue why prices are doubled. Slowly we will be able to surpass these adversaries and get your life back living without fear of being expose from the virus hence majority of people now were vaccinated.

[ifarted]

It's only natural especially in times like this because of the Covid-19 pandemic preventing us to work unless we get vaccinated. Some quits work because they are anti-vaxxers and some are rejected due to restrictions.

The lack of workers had caused us little supply of goods that we daily needed and that's why the price doubles.

[DanWalker]

When i have time i go to local market to check prices

Vegetable prices doubled
Fruit prices doubled
Meat prices around 30% increase
Grain products around 20% increase
...

And my country  is a exporter of food products

How is it in your country ? Same ?


----------------------

My country is Romania

https://www.bloomberg.com/news/articles/2020-04-10/food-supply-fears-are-growing-as-romania-bans-grain-exports

We tried to ban exports of grain ,but stupid EU intervened...

Right now food prices are affected by the covid-19 pandemic and most people stockpile large quantities of food making food scarce and becoming more and more expensive. Right now my family is having a hard time buying food and the prices are increasing. I really don't know how to make life back to normal.

[xSkylarx]

This problem is caused by this epidemic. The scale of this virus is huge and unprecedented. The virus prevents us from working normally. There will be problems in natural food. This virus not only affects us humans, but also animals, restricting us. The efficiency of work leads to a shortage of goods, and natural prices will rise.

This is the effect of the pandemic, which is causing the poor to become even poorer. Life in that situation is extremely difficult because we have been unable to find work and are unable to go out on a regular basis, especially since the cost of all foods has doubled. But I've noticed that most of the rich people are getting richer, for reasons I don't understand; I've seen a lot of people buy cars, and we can see the poor people struggling to get by on a daily basis. It is affecting the poor people right now, and we should help others in similar situations.