Onions ‘Like Gold’ in Inflation-Saddled Philippines – Guardian

Onions are being smuggled, hoarded and presented as wedding presents in the Philippines, as the country battles with persistently soaring food inflation, according to a report by The Guardian.

Authorities have seized more than $9 million worth of the vegetable, likened by some to gold, as Covid’s impact on small and medium businesses and a bout of natural disasters have turned staples into luxuries.

Read the full report: The Guardian

Also read:

Soaring Gas Price, Blizzard Forces Korea to Lift Energy Vouchers

Indonesia, Malaysia Signal End of Rate Hikes as Inflation Cools

Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has been working as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a stock market trader and investor, she is keenly interested in economy, emerging markets and the intersections of finance and society. You can tweet to her @saxenavishakha

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