North Korea – Coffee at USD 100 And A Cup of Tea at USD 70. Inflation has raised in North Korea due to the Corona lockdown, border closures and global sanctions over its nuclear program. Commodity prices are skyrocketing in the capital, Pyongyang.
North Korea – Coffee at USD 100 And A Cup of Tea at USD 70:
A cup of coffee costs $100 and a cup of tea costs $70.
According to news reports, a few days ago, North Korean leader Kim Jong-un admitted that his country is facing a bad economic situation.
He said that there is a shortage of food in the country. Due to the closure of borders, the economic crisis is growing.
On the other hand, observers say sanctions against the nuclear program are one of the main reasons for food shortages and inflation in North Korea.
Last Thursday, Kim Jong-Un promised effective measures to resolve the crisis. But they are facing difficult situations and they have very few options.
North Korea’s agricultural sector is slightly better than last year’s losses. Changing domestic food imports can be difficult as borders are closed due to the coronavirus.
Local sources have revealed that prices of some basic commodities have risen sharply in the capital, Pyongyang.
While experts say rice and fuel prices are still relatively stable, prices of imported goods such as sugar, soybean oil and flour have risen sharply.
The cost of some locally made goods has also risen in recent months, according to CNN. Pyongyang residents say potato prices have tripled in the Tongal market. Both locals and foreigners shop here.