Food inflation triggers price hike for “new ration” of Chinese young generation
Consumer food prices continue to rise and has begun to hit one of core sectors of consumer spending in China for the young generation.
Yesterday, two publicly listed milk tea brands announced to raise thier prices from anywhere between 2% and 8%.
The reasons are claimed to be similar to those from other food companies who have raised prices in recent months, which traces back to higher costs of raw materials, as well...