Here Are The Countries That Spend The Most On Food
This chart plots the share of household income in a given country spent on food against the level of household income in that country.
Neil Dutta, head of U.S. economics at Renaissance Macro, warns that rising food prices may serve as an additional economic headwind to some of the emerging markets in the top-left region of the chart (India, China, Indonesia, and Nigeria, to name a few).
"Food prices are climbing for a range of items including cattle, cocoa, sugar and coffee," says Dutta.
"Broadly speaking, the rise in food prices will affect lower-income countries more than higher-income ones. There is a clear inverse relationship between incomes and share of consumption expenditures spent on food. Consumers in low-income countries spend a larger share of their income on food and a rise in food prices is akin to a tax hike, biting into disposable income."
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Markets rebound sharply on buying in bank stocks firm global trends