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The COVID-19 pandemic, along with related lockdowns, mobility restrictions, and physical distancing measures, not only led to a significant rise in unemployment and substantial income losses for many people, but also altered consumer spending patterns and influenced the level of price inflation experienced by households. In particular, lockdown measures disrupted both the supply and demand of certain products.
Description
In Eastern and South-Eastern Asia, food price inflation rose from 5.2 percent in December 2019 to 9.3 percent in January 2020. In Europe and North America, food price inflation increased from 1.9 percent in March 2020 to 3.8 percent in April 2020, following the introduction of lockdown measures. Similar patterns were observed across other regions.
The COVID-19 pandemic, along with related lockdowns, mobility restrictions, and physical distancing measures, not only led to a significant rise in unemployment and substantial income losses for many people, but also altered consumer spending patterns and influenced the level of price inflation experienced by households. In particular, lockdown measures disrupted both the supply and demand of certain products.
