Price pinch: global economy caught in perfect storm

  • Britain’s chicken king says 20-year cheap food binge over
  • IEA says energy crisis could threaten economic recovery
  • Cold keeps China coal prices high, power crunch continues
  • Biden targets bottlenecks threatening holiday sales

LONDON/TOKYO, Oct 14 (Reuters) – From beef bowls in Tokyo to fried chicken in London, consumers are starting to feel the pinch from the surge in costs coursing through the global economy.

The rebound as coronavirus restrictions are eased has exposed supply chain shortages, with firms scrambling for workers, ships and even fuel to power factories, threatening the fledgling economic recovery.

Britain’s biggest chicken producer said that the country’s 20-year cheap food binge is ending and food price inflation could hit double digits. read more

“The days when you could feed a family of four with a 3 pound ($4) chicken are coming to an end,” Ranjit Singh Boparan, owner of the 2 Sisters Group, said.

Shortages of warehouse workers, truckers and…

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