Typhoon Inflation

(((The planet's not a toy for the economy; the economy is a toy for the planet.)))

(((Big storms and soaring food prices. Gee, who coulda figured that one out?)))

Link: Planet Ark : Typhoons Seen Fanning Taiwan's Inflation Threat .

TAIPEI - Taiwan's consumer inflation will likely peak at higher-than-expected levels in July or August, as food prices reel from back-to-back typhoons this month. Tropical Storm Kalmaegi and Typhoon Fung-Wong ravaged Taiwan over the past two weeks, causing combined agricultural losses of T$1.5 billion (US$49 million) amid images of farmers fretting in orchards littered with fallen fruit. (...)

Prices of food, which make up about a quarter of Taiwan's consumer price index, have been surging as the bad weather crimped supplies of fruit and vegetables. In some parts of Taiwan, prices of leeks rose by 40 percent in a week, media reported.

"Nobody wants to buy leafy vegetables because prices have gone up so much. They are buying melons instead," said a vegetable seller, sweeping her stall the day after the latest typhoon passed through, amid a dearth of customers.

"Some people bought vegetables in bulk a few days ago because they were afraid prices will go up further," she added....