Highlights

  • South Korean inflation soars to a 14-year high
  • Global food prices surged 23% last month from a year before

Latest news

 Yati Narsinghanand under police scanner for calling for boycott of Centre's 'Har Ghar Tiranga' campaign

Yati Narsinghanand under police scanner for calling for boycott of Centre's 'Har Ghar Tiranga' campaign

iQOO 9T Review: the power of Snapdragon!

iQOO 9T Review: the power of Snapdragon!

Barcelona register 4 new signings in time for La Liga opener

Barcelona register 4 new signings in time for La Liga opener

PM Narendra Modi hosts Indian Commonwealth Games contingent

PM Narendra Modi hosts Indian Commonwealth Games contingent

Asia Cup 2022: Ricky Ponting predicts winner of India vs Pakistan match

Asia Cup 2022: Ricky Ponting predicts winner of India vs Pakistan match

Lunchflation hits office workers but what is it?

The war in Ukraine has impacted supplies of grains from there and Russia, and caused energy and fertiliser prices to soar. 

As millions across the world return to office after a two-year-long pandemic, they are being greeted by high prices on almost every item. These costs are being passed on to the typical business lunch traveller, experts are calling this phenomenon “Lunchflation”. But what is it?

Lunchflation, a recently created phrase, describes the specific inflation of lunchtime meal prices, such as sandwiches and wraps. This new inflation has received a lot of attention recently as more individuals start going back to work following the outbreak.

Starbucks raised prices in the US earlier this year and in October 2021 – and prices could continue to rise. Salad chain Sweetgreen also raised its menu prices by 10 per cent since the start of 2021.

Similar trends are being witnessed across restaurants and other companies in the US that have raised menu prices due to global inflation.

This is happening not just in America but also in countries like South Korea, where the average meal price index increased 6.6% in April 2021. These consist of eateries that provide services including self-service via QR codes and online ordering, as well as local delivery at a set price through third-party partners.

In South Korea's capital, Seoul dubbed "lunch-flation", the price of beloved dishes such as "galbitang" (beef stew with rice) jumped 12.2% and "nengmyun" (cold noodles) rose 8.1%.

Up Next

Lunchflation hits office workers but what is it?

Lunchflation hits office workers but what is it?

FM Sitharaman takes on CM Kejriwal in the 'freebies' debate

FM Sitharaman takes on CM Kejriwal in the 'freebies' debate

Explained: The new Electricity Bill and the opposition it faces

Explained: The new Electricity Bill and the opposition it faces

Don't Pay: Find out why 75,000 Brits will stop paying their power bill

Don't Pay: Find out why 75,000 Brits will stop paying their power bill

RBI Monetary Policy: Repo rate hiked by 50 bps, outlook remains cautious

RBI Monetary Policy: Repo rate hiked by 50 bps, outlook remains cautious

RBI monetary policy preview : What to expect from rates

RBI monetary policy preview : What to expect from rates

More videos

Fed raises rates but Fed Chief Powell's comments power up the markets

Fed raises rates but Fed Chief Powell's comments power up the markets

IMF slashes global growth outlook, India GDP estimate also not spared

IMF slashes global growth outlook, India GDP estimate also not spared

Why is P Chidambaram asking FM Nirmala Sitharaman to take up astrology?

Why is P Chidambaram asking FM Nirmala Sitharaman to take up astrology?

Brace for a bazooka hike in interest rates

Brace for a bazooka hike in interest rates

Rajapaksas: the rulers and wreckers of Sri Lanka

Rajapaksas: the rulers and wreckers of Sri Lanka

After wheat, India puts restrictions on export of wheat products

After wheat, India puts restrictions on export of wheat products

Govt raises taxes on export of ATF, diesel and petrol, RIL & ONGC hit

Govt raises taxes on export of ATF, diesel and petrol, RIL & ONGC hit

World MSME Day: India's MSME industry set for a global introduction

World MSME Day: India's MSME industry set for a global introduction

'Can high rates really bring down inflation?' Fed Chief faces brutal questioning

'Can high rates really bring down inflation?' Fed Chief faces brutal questioning

Explained: Falling global markets and what is the new 'GST' fear

Explained: Falling global markets and what is the new 'GST' fear

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.