- Profits at Ma Hong's spicy hotpot restaurant have been squeezed by about a fifth since he opened in downtown Beijing last year, crushed by beef tripe prices that have shot up by more than 50% and the surging costs of other key ingredients.
Spiralling prices for ingredients and material that started with supply chain snags during the COVID-19 pandemic and are now being propped up by the war in Ukraine are squeezing businesses and consumers. "I have been working at this kitchen for the last 15 years," he said. "These days prices of rice and spices have gone up so much that poor people can't afford to eat it."At one of Jakarta’s street food corners, nasi goreng vendor Syahrul Zainullah has reduced his servings of the signature Indonesian fried rice dish rather than raise prices or use lower grade ingredients.
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