High Rates of Food Affected Millions of People Globally
According to recent updates, the global market prices of agricultural commodities like vegetable oil, grains, and dairy have dropped, but this has not alleviated the difficulties faced by poor people around the world. Despite the decrease, it is becoming increasingly difficult for individuals to afford regular meals due to the expenses they must bear such as rent and fees. The high food prices are causing significant hardship for many.
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Examples of cost-saving measures can be seen in various places, such as a restaurant in Nairobi that has reduced the size of its chapatis to save cooking oil, cash-strapped Pakistanis who have stopped consuming beef and chicken due to their high cost, and a café in Hungary that has eliminated burgers and fries from its menu to control expenses related to oil and beef.
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In the United States, food prices have risen by 8.5% over the past year, with a significant portion of this increase attributable to inflation (which excludes volatile food and energy prices). In the European Union, food prices have increased by 19.5% in the last month compared to the previous year, while the UK has seen a 19.2% rise, the largest increase in almost 46 years.
Pakistan has also seen an increase in prices of vegetables, beans, rice, and wheat, with some items going up by as much as 50%. Kenya is also facing food shortages and high prices due to the impact of the war in Ukraine, and the situation has persisted despite the passing of time.
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