Inflation in India appears to be closings in on about 10 percent and, in other parts of Asia, life’s essentials are getting more and more expensive in what may now be a situation where U.S. exports in-flation to the rest of the world (yes, this follows the importing of de-flation in recent decades which helped keep U.S. inflation much lower than it would otherwise be). According to this New York Times story, even kimchi has become dear.
Even in the middle of a loud and bustling outdoor market, her voice drops to a whisper when she agrees to reveal the two secret ingredients that make her kimchi so popular with her customers.“Fermented-anchovy paste and pickled-prune sauce,” says Kim Gil-soo, looking warily, both ways, down the alley in front of her store, called Prosperity.
“I special-order the sauce from a certain place in the countryside,” she said, still whispering. “I’m quite well known for my kimchi.”
But recent sales have been disappointing, Mrs. Kim said, because of an unavoidable spike in the price of her kimchi, the fiery and pungent Korean national dish that typically combines cabbage, radishes, red chili peppers, garlic and salt. The price for one head of long-leafed Napa cabbage grown in Korea has skyrocketed in the past month, to as much as $14, from about $2.50. Domestic radishes have tripled in price, to more than $5 apiece, and the price of garlic has more than doubled.
Kimchi has become so expensive that some restaurants in the capital no longer offer it free as a banchan, or side dish, a situation akin to having an American burger joint charge for ketchup, although decidedly more calamitous here. The politics editor of a major South Korean newspaper called the kimchi situation “a national tragedy,” and an editorial in Dong-a Ilbo termed it “a once in a century crisis.”
Maybe they should try ketchup…
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