High Food Prices Hit Silicon Valley South Asians
The prices of rice, chappati, besan, daals, spices and almost all staples consumed by silicon valley South Asians have experienced triple digit price inflation during the last year. After reading about food price inflation and shortages of staple foods in their home countries, Pakistanis and Indians are now feeling the pinch in Silicon Valley as Basmati rice is in very short supply even with a 300% price jump. Jasmine rice, preferred by East Asians, has also disappeared from the grocery shelves at Costco stores. Costco management has decided to limit each customer to two bags of rice to control panic buying or profiteering. Even with these dramatic price increases, the impact on their wallets from food price inflation is relatively small because Silicon Valley South Asians spend a much smaller percentage of their incomes on food than their friends and families in South Asia. Nonetheless, higher energy costs and the costs of various goods and services used by them everyday is causing ...