Growing Food Inflation in India And China: A Consequence Of Rising Economic Growth.
October 12th, 2007 - by 2point6billion.com
Both nations are growing and prospering. But then there are always two sides of a coin. We all generally just talk about the goody - goody things happening in them. How much a poor gets affected by the positives that benefit a rich are often ignored. They pay the price.
No we not here to talk about rich vs. poor widening gaps in emerging economies. Growth in C&I (I would like to avoid repeating “China and India” every time, so C&I for short) is the buzzword. I share here the impact of rapid economic growth in C&I on food inflation with this audio clip from VOA’s Asia News Center in Hong Kong which talks about how the rising middle class in the two nations with their high incomes and improving consumption patterns impacts the food prices making them highly volatile.
An excerpt from the clip
“….In August, China’s inflation rate hit its highest level in more than a decade, with food prices up more than 18 percent from a year earlier. Officials in India are concerned about costlier food, despite its relatively stable inflation rate…”
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