News Snapshot:
Retail prices have been increasing gradually for the past few months. Consumers are feeling the squeeze, especially when it comes to food. Costs have been on the rise for groceries, street food, fast food and buffets in upmarket hotels. In addition to rising costs, the global shipping crisis has severely affected businesses and industry, resulting in a shortage of a number of foods, such as McDonald’s hash browns and imported meat. Statistics show that since consumer price index growth surpassed 2 percent in the second quarter of last year, it plateaued before hitting a nine-year high in November last year....
