Is inflation rekindling? Cacao and coffee prices are soaring [Column from London]
2024-04-14 00:00:00
Strong headwinds are blowing toward the end of inflation, and the yen's depreciation is accelerating. The rate of increase in the U.S. consumer price index for March, announced on April 10, exceeded market expectations, causing the yen to plummet to a level of 153 yen to the dollar, the lowest level in approximately 34 years. . What is even more worrisome is the ``food inflation'' that is creeping into the world. The futures price of cacao beans, the raw material for chocolate, has hit a record high. The futures price of Robusta coffee, which is used in instant coffee, also hit a new high. What is happening? (London bureau reporter Hiroko Matsuzaki)
