Global food inflation impacts the Malaysian market

Global phenomenon: A vendor serves customers at the La Boqueria food market in Barcelona, Spain. Spanish inflation accelerated to the fastest in nearly three decades in November on rising food prices, underscoring the lingering consequences of supply-chain bottlenecks across Europe. – Bloomberg

THE current rising price of food, and the frustrations faced by millions across the country in getting access to affordable essential goods, is not only a localised situation but one that is also impacted by global chain events. Most other nations around the world are struggling with various challenges, including pandemic-related issues, which directly affect the cost of essential goods, creating high inflation on food products.

The main priority faced by governments now is to effectively introduce policies which can ensure families are able to put food on the table, and to do so with haste.