Rising food prices have become a hot topic in emerging markets, raising the risk of civil unrest and putting policy makers in a bind between stepping in with fiscal support to ease the pain on their population or preserve government finances
The 49-year-old, who works in an auto repair shop in Turkey's largest city Istanbul and lives with his wife and two children in his father's house, says fresh produce is often out of reach with his family living on pasta, bulgur and beans.
Rising food prices are a hot topic in emerging market, raising the risk of civil unrest with echoes of the Arab spring and putting policy makers in a bind between stepping in with fiscal support to ease the pain on their population or preserve government finances. Food producers have become more protective: India on the weekend announcing a ban on wheat exports while Indonesia halted exports of palm oil to control soaring prices at home in late April.And with the war in Ukraine not only disrupting food but also fertilizer supplies, food inflation could be more longer-lasting, Marcelo Carvalho, head of global emerging markets research at BNP Paribas told Reuters.
"All prices rose - clothes, vegetables, poultry, eggs - what am I going do?" she asked, laying out her ware on a cloth.
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