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A special cover is used on a farm's waste collection areas (known as slurry lagoons) to catch methane emissions that would otherwise escape into the air. CNH IndustrialThe potential of the methane tractor extends far beyond the farm. Industry leaders pulled together to work on the projectThe success of the methane tractor project is testament to the power of collaboration. Beyond the agricultural sector, the methane tractor project holds promise for transforming the entire automotive sector. By demonstrating the viability of alternative fuel technologies in heavy-duty vehicles, this initiative paves the way for a more sustainable future in transportation.
Persons: Andrew Damant, CNH, Derek Neilson, Eminox, David Phillips, Neilson Organizations: UK's Department for Business and Trade, Advanced Propulsion Centre, Eminox, Mobile, Automotive Transformation Fund, Advanced, Industry, Insider Studios, UK Department for Business, Trade Locations: Cornwall, Europe, CNH, New Holland
India's national flag flaps next to the 'National Emblem' at the newly constructed Indian parliament building after the flag hoisting ceremony in New Delhi on Sept.17, 2023. India's inflation and economic growth are at risk from the rise in oil prices caused by disruptions in the Red Sea, the government said on Friday, highlighting the need to diversify trade routes. A combination of high freight costs, insurance premiums and long transit times can make imported goods "significantly more expensive", India's finance ministry said in its monthly economic review. India's shipments of agricultural commodities, textiles, chemicals, capital goods, marine and petroleum products may be impacted due to the disruptions, and affect the price competitiveness of exports. "To effectively address these challenges, there may be a need to diversify trade routes and transportation options," the finance ministry said.
Persons: Yemen's Locations: New Delhi, Red, Europe, Suez, Africa
Six years ago, Illinois farmer John Ackerman didn't hire any contract workers at all. He enjoys mentoring young people, but says it's felt harder lately to justify hiring inexperienced workers when contract workers do the same hard, physical jobs faster and better. Climate change affects all farm workers, but advocates and researchers say this is a reason to focus particularly on these workers. The USDA data showed an uptick in the number of farms using migrant labor, both within farms that already hired contract workers and overall. He’s tried reaching out H-2A workers on nearby farms, but says their supervisors won’t let them talk to him.
Persons: John Ackerman didn't, Ackerman, it's, Alexis Guild, Rebecca Young, , Jennifer Vanos, Abigail Kerfoot, Luis Jimenez, farmworkers, Jimenez, He’s, won’t, , Jed Clark, he's, Stephanie McBath, ” McBath, “ it’s, ” Bruce Cline, Scott Kuegel, ” Jimenez, Dorany Pineda, Joshua A, Bickel, Melina Walling Organizations: U.S . Department of Agriculture, Farmworker, Arizona State University, Centro de, Alianza Agrícola, , National Association of State, of Agriculture, Associated Press Locations: Illinois, U.S, New York, North Carolina, Kentucky, Crofton , Kentucky, Owensboro, AP.org
Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023. Analysts believe the cost of the core chocolate ingredient may have room to extend its record-breaking run, with no sign of significant demand destruction yet on the horizon. Concerns over the supply of cocoa in West Africa, home to around three quarters of the world's production, have driven the market higher in recent months. In New York, benchmark ICE cocoa futures stood at $6,549 per metric ton on Wednesday. Somewhat surprisingly, the historic price surge has not yet hampered global demand.
Persons: Paul, CNBC's Organizations: Analysts, Rabobank Locations: Hermankono, West Africa, New York
Reliable and affordable food and commodity imports are more important to a net food importer like Kenya than to some other countries. Perhaps more importantly, a critical part of the world's food supply system remains disrupted, undermining food security and raising the underlying costs of cross-border trade. The governments of Kenya and Ukraine are also working together on food security. Meanwhile, Russia's own efforts to play a part in rebuilding food security have been more a public relations exercise than real action. Although Russian sources have claimed that such shipments have begun, there is still little evidence of Russian food aid arriving in Africa.
Persons: Timothy Njagi Njeru, Kalya Kiptiony, Dr Abraham Korir SingOei, William Ruto, Volodymyr Zelenskyy, Russia's, Dr Njeru, Lensa Omune Organizations: Tegemeo Institute, Kenyan, Initiative, Kenya's Ministry of Foreign, Diaspora Affairs, International Food Policy Research Institute, Insider Studios, Foreign, Commonwealth & Development Office Locations: East Africa, Ukraine, Kenya, Russian, Nairobi, Russia, Africa, Horn, Port, Mombasa
That’s why government officials recently announced a change in the legal status of Ngorongoro that will prohibit human settlement inside and near it. The decision will force authorities to remove nearly 100,000 people — mostly Maasai pastoralists who have used Ngorongoro’s vast grasslands to sustain their seminomadic cattle-herding way of life for generations — from the protected area. According to the government, the Maasai must be removed to conserve the land and protect biodiversity. The Maasai argue that removal puts their lives and cultural survival at risk and that the government should instead expand tourism in a way that respects their rights. Yet in many cases people are already living and surviving off these lands — indeed, an estimated 476 million Indigenous peoples dwell on lands that are home to 80 percent of the world’s biodiversity.
Organizations: World Wildlife Fund, Wildlife Conservation Society, University of Arizona Indigenous Peoples Law, United Nations, Indigenous Peoples Locations: Mara, Kenya, United States, France, Germany, Japan
Twilio -- Shares dropped nearly 11% after the consumer engagement company issued lower-than-expected revenue guidance for the current quarter. Twilio also reporter total active consumers for the fourth-quarter that were below Wall Street estimates. Tripadvisor -- Shares climbed nearly 5% after the online booking company beat Wall Street estimates on the top and bottom line in the fourth-quarter. JFrog -- Stock in the software development company climbed more than 19% after fourth-quarter results surpassed Wall Street estimates. Shake Shack -- Shares of the restaurant stock climbed nearly 17% after the firm beat Wall Street estimates on the top and bottom line.
Persons: Twilio, Bitcoin, Tripadvisor, JFrog, FactSet, Shack, John C, bitcoin, — CNBC's Hakyung Kim, Sarah Min, Pia Singh Organizations: Cisco —, Cisco, JPMorgan, Wall, LSEG, Deere, Bank of America, Nvidia, AMD, Intel, Marathon Digital Holdings, Arm Holdings, Holdings
SOFIA, Bulgaria (AP) — Hundreds of angry farmers took to the streets in Bulgaria’s capital, Sofia, on Monday to complain of what they called “the total failure” of the government to meet the mounting challenges of the agricultural sector. They called on Agriculture Minister Kiril Vatev to step down for not keeping his promises to ease the administrative burden on the farming sector, to seek state compensation for high costs and falling incomes. Ventsislav Varbanov, who chairs the Association of Agricultural Producers, complained that the government is adding more undue burdens, instead of seeking some relief for the farmers. The association expressed discontent with a statement made by Prime Minister Nikolay Denkov in response to their demands for compensation that only grain producers who can prove a loss for 2023 will receive financial support. The association wants some form of compensation for all grain producers.
Persons: Kiril Vatev, Ventsislav Varbanov, Varbanov, Nikolay Denkov Organizations: Agriculture, of Agricultural Producers Locations: SOFIA, Bulgaria, Bulgaria’s, Sofia, Europe, Ukraine
For instance, the U.S. has blocked shipments of cotton coming from China, a top manufacturer of popular clothing brands, because it was produced by forced or prison labor. While prison labor seeps into the supply chains of some companies through third-party suppliers without them knowing, others buy direct. Cargill acknowledged buying goods from prison farms in Tennessee, Arkansas and Ohio, saying they constituted only a small fraction of the company’s overall volume. For instance, about a dozen state prison farms, including operations in Texas, Virginia, Kentucky and Montana, have sold more than $60 million worth of cattle since 2018. “What for?”FOLLOWING THE MONEYThe business of prison labor is so vast and convoluted that tracing the money can be challenging.
Persons: it’s, Willie Ingram, “ They’d, billy clubs, they’d, , Ingram, didn’t, they’re, don’t, Andrea Armstrong, Frank Dwayne Ellington, Ellington, Koch, “ It’s, it’s somebody’s, Alishia Powell, Clark, , Bunge, Louis Dreyfus, Archer Daniels, Cargill, ” McDonald’s, Mills, ” Bunge, Burger, Jermaine Hudson, ” Hudson, Calvin Thomas, Thomas, Ken Pastorick, Pastorick, Jennifer Turner, Faye Jacobs, Jacobs, ’ ” David Farabough, they’ve, Joshua Sbicca, Cliff Johnson, Jimmy Dean, Sara Lee, Tyson, Brevard County Sheriff Wayne Ivey, that’s, ” Ivey, “ They’re, ’ ”, William “ Buck ” Saunders, Hickman’s, Brooke Counts, Counts, John’s, Jack Strain, Tammany Parish, Russell Stover, Curtis Davis, Robert Bumsted, Cody Jackson, Columbia University’s Ira A, Lipman Organizations: Louisiana State Penitentiary, The Associated Press, Walmart, Cargill, U.S, Kroger, Target, Aldi, Corrections, Loyola University New Orleans, Koch Foods, Occupational Safety, Health Administration, Washington, Archer Daniels Midland, Consolidated, AP, Foods, Dairy Farmers of, Big, Sam’s, Tyson Foods, U.S ., Civilian, OSHA, Fair Labor, American Civil Liberties, Colorado State University, MacArthur Justice Center, University of Mississippi, PepsiCo, Brevard County Sheriff, Arizona . Companies, Costco, Correctional, Prisons, Nut, Maine Foods, Taylor Farms, Transitional, Associated Press, Public Welfare Foundation, Columbia, Lipman Center for Journalism, Arnold Ventures Locations: ANGOLA, La, Southern, Louisiana, Texas, In Louisiana, Angola, United States, , Ashland, U.S, China, Tennessee , Arkansas, Ohio, Dairy Farmers of America, Texas , Virginia, Kentucky, Montana, Baton Rouge, Mississippi, Manhattan, America, Alabama, American, Arkansas , Texas, Florida , Alabama, South Carolina, Georgia, Arkansas, In Alabama, Florida, Brevard County, Arizona, Wisconsin, California, Colorado, state’s St, Tammany, Idaho, In Kansas, Cal, St, Francisville , Louisiana, Feliciana, Investigative@ap.org
Ashkelon, Israel CNN —It was supposed to be a safe haven – a new life for those seeking refuge from the turbulence of war. “I started crying when I began to understand that I’m not going back,” he told CNN at Kfar Silver. These four teenagers all moved from wartorn Ukraine to Kfar Silver near Ashkelon in Israel. Courtesy Monique ZahaviGofer told CNN that “thousands of rockets” flew over the village, while fires broke out everywhere around them. “When the war started here there was relative silence in Ukraine and my family felt more safe,” he said.
Persons: Little, , Artem Karpin, , ” Karpin, Karpin, upended, Michael Reider, Maria, Sviatoslav Kulyk, Monique Zahavi, Reider, Amos Gofer, Kfar Silver, Gofer, Monique Zahavi Gofer, they’re, Amir Cohen, Kulyk, , I’ll, Gofer –, aren’t, , Israel Organizations: Israel CNN, Kfar, ORT, CNN, , , Hamas, Reuters, Rockets Locations: Ashkelon, Israel, Ukraine, Gaza, Russia, Odesa, Kfar Silver, Kyiv, Poland, Lebanon, Netanya, , Europe, Greece, Germany, Ukrainian, Kharkiv, Russian, Moldova, I’m
Macron's opponents are seizing on the farmers' demonstrations to bash his government's record ahead of European elections in June. Far-right leader Marine Le Pen, whose National Rally party is polling strongly, blamed free-trade agreements, imports and bureaucracy for farmers' economic woes. Roads hit Thursday morning by drive-slows included a highway west of the French capital and seat of power. “We are getting progressively closer to Paris,” farmer David Lavenant said to broadcaster BFM-TV. In recent weeks, farmers have staged protests in Germany, the Netherlands, Poland and Romania.
Persons: Gabriel Attal, Emmanuel Macron, Marine Le, , David Lavenant, Ursula von der Leyen, von der Locations: Paris, Agen, France, Brussels, Germany, Netherlands, Poland, Romania
Read previewAlibaba cofounder Jack Ma was once the invincible poster boy of Chinese tech. Now, it appears Ma is debuting a refreshed version of himself, in what you just might call Jack Ma 3.0. Jack Ma 1.0: A struggling teacher who wanted in on the tech sceneIt's easy to understand why Ma is so popular in the US and China alike. His first business — China Pages — failed, but he gathered a band of 17 friends in 1999 to set up Alibaba. AdvertisementMa himself cavorted with the biggest names in business, tech, and government globally — from Bill Gates and Softbank CEO Masayoshi Son to then president-elect Donald Trump.
Persons: , Jack Ma, Michael Jackson, Ma, Ma —, Xi Jinping's, he's, Ma Yun, He's, Brian Wong, Wong, Jack, it's, Alibaba.com, behemoth Goldman Sachs, Alibaba, Charlie Rose, cavorted, Bill Gates, Masayoshi Son, Donald Trump, Supakit Chearavanont, Ma hasn't, SCMP Organizations: Service, Business, Communist Party, Hangzhou Teachers Institute, KFC —, Economic, Big Tech, New York Stock Exchange, Financial Times, Tokyo College, Charoen, China Morning Locations: Beijing, China, Hangzhou, Davos, Switzerland, Alibaba, Asia, Spain, Netherlands, Japan, Thailand, Agriculture
Leslie Redmond, 37, moved to Winnipeg, Canada, from Alaska in 2022. There's a really big Ukrainian population and a really big Polish population. So there are a lot of flavors and foods that are really ubiquitous up here that I wouldn't have had in the States. That was the case across Canada — and across the US — but I think that's kind of slowed down a little bit now. I would say Winnipeg is pretty equivalent to Alaska, but Alaska is higher than what you would find in the lower 48.
Persons: Leslie Redmond, , It's, I've, Redmond, I'd, Justin Reitsma, they're, it's Organizations: Service, of Agricultural, Food Sciences, University of Manitoba Locations: Winnipeg, Canada, Alaska, There's, States, North Dakota, Vancouver, Quebec, Yukon, we're, Grand Forks, Target, there's, Manitoba, Redmond, oceanside
WASHINGTON (AP) — The White House said Monday that the U.S. may establish a naval task force to escort commercial ships in the Red Sea, a day after three vessels were struck by missiles fired by Iranian-back Houthis in Yemen. On Sunday, ballistic missiles fired by Yemen’s Houthi rebels struck three commercial ships, while a U.S. warship shot down three drones in self-defense during an hourslong assault, the U.S. military said. He noted similar task forces are used to protect commercial shipping elsewhere, including off the coast of Somalia. The Houthi attacks imperil traffic on one of the world’s most vital shipping lanes and with it global trade overall. Political Cartoons View All 1277 ImagesThe Red Sea and Bab al-Mandab are also part of a vital route for commercial shipping overall, carrying millions of tons of agricultural products and other goods to markets yearly.
Persons: Jake Sullivan, Yemen’s Houthi, ” Sullivan, Sullivan, Jon Gambrell, Ellen Knickmeyer Organizations: WASHINGTON, U.S, U.S . Energy, Administration, Locations: U.S, Red, Iranian, Yemen, Israel, United States, Somalia, Gulf, Europe, China, Bab, Iran
Not enough financing for climate adaptation, IFAD president says
  + stars: | 2023-12-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot enough financing for climate adaptation, IFAD president saysAlvaro Lario, president of the International Fund of Agricultural Development, says there is enough money for hard infrastructure and climate mitigation for developed economies, but there are not enough funds for developing nations.
Persons: Alvaro Lario Organizations: International Fund of Agricultural
We need to implement food systems approaches throughout COP28," said Joao Campari, global leader of food practice at the World Wildlife Fund. Doing so could also unlock financial investment in tackling food emissions, said Saswati Bora, global director for regenerative food systems at the Nature Conservancy. TACKLING METHANEA key goal for advocates is reducing methane emissions from food sectors like livestock production and food waste. Countries should also make stronger commitments in NDCs on food waste, said Liz Goodwin, director of food loss and waste at the World Resources Institute. Food waste generates half of all global food system emissions according to a March study published in the journal Nature Food.
Persons: David Swanson, Joao Campari, NDCs, Patty Fong, Saswati Bora, Bora, John Tauzel, Tauzel, Liz Goodwin, Goodwin, Leah Douglas, Josie Kao Organizations: REUTERS, United Nations, Food, Agriculture Organization, FAO, World Wildlife Fund, Conference of, United, United Arab Emirates, Global Alliance, Nature Conservancy, COP26, Environmental Defense Fund, World Resources Institute, Thomson Locations: Corcoran , California, U.S, Dubai, COP28, United Arab, United States, India, China, Canada, NDCs
Twelve hostages, including 10 Israelis and two Thai nationals, were released from Gaza and delivered into Israeli territory, the Israeli military said on Tuesday, on the fifth day of the cease-fire between Hamas and Israel. The hostages released on Tuesday included three members of one family, according to a list released by the Israeli prime minister’s office: Gabriela Leimberg, 59, Mia Leimberg, 17, and Clara Marman, 63. Before the latest transfer, Hamas had released 50 Israeli hostages and Israel had freed 150 Palestinian prisoners. A vast majority of hostages released since the cease-fire began are women and children. Israel has generally referred to dual nationals as Israelis in discussing the hostages.
Persons: Gabriela Leimberg, Mia Leimberg, Clara Marman, Organizations: Hamas Locations: Gaza, Israel, Northern Gaza
Alibaba cofounder Jack Ma just set up a new company called "Hangzhou Ma's Kitchen Food," per media reports. AdvertisementFor years, Alibaba cofounder Jack Ma has been the poster boy for China's tech industry — but it looks like he's moving on to the food business. On Wednesday, Ma incorporated a company called "Hangzhou Ma's Kitchen Food" in the city where Alibaba is based, according to media reports. Hangzhou Ma's Kitchen Food is wholly owned by Ma's investment vehicle, Hangzhou Dajingtou. His foundation, the Jack Ma Foundation, did not immediately respond to a request for comment from Business Insider.
Persons: Jack Ma, It's, Ma, , He's, Supakit Chearavanont Organizations: Alibaba, Service, China Morning Post, National Enterprise, and Culture, Tokyo College, Charoen, Business Locations: Hangzhou, Alibaba, Hangzhou Dajingtou, Beijing, Spain, Netherlands, Japan, Thailand
Agriculture has suffered losses of over $25 billion since the war began, Ukrainian grain trader association UGA estimates. Ukraine's grain exports so far in the 2023/24 season that started in July are running 28% below the year-earlier volume, according to agriculture ministry data. A new Black Sea shipping channel may offer a lifeline, like for Ukraine's depleted steel industry. An additional 943,000 tons should leave from Black Sea ports and 464,000 tons from the Danube by the month-end. A Russian missile strike on port infrastructure in Odesa on Nov. 21 added to a series of attacks on Ukraine's Black Sea and Danube grain ports.
Persons: Stringer, Jean, Francois Lepy, Dmitry Skornyakov, Denys Marchuk, Skornyakov, Yuriy Stelmakh, Roman Gorobets, Soliman, Scott Wellcome, Pavel Polityuk, Gus Trompiz, Nigel Hunt, David Evans Organizations: REUTERS, Agriculture, UGA, Spike, Agrarian Council, FE ASTRA, Kremlin, Mediterranean, Thomson Locations: Ukraine, Zaporizhzhia region, PARIS, Russia, UN, Geneva, Black, Russian, Odesa, Romania's Constanta, Brazil, Egypt, GoodMills, Kyiv, Paris, London
Australia's mutton glut sent prices tumbling, and some farmers are culling or giving away their sheep to save costs instead of rearing them on-farm. Mutton prices have slumped 70% over the past year to $1.23 per kg, data provided by Meat and Livestock Australia (MLA) showed. Driving the large sheep flock were three years of above-average rainfall in Australia's sheep regions, such as New South Wales and Victoria. "Farmers have [since] seen a massive fall in profitability … Many sheep may not have a market which could lead to farmers destroying animals," Steve McGuire, vice president of agricultural advocacy group WAFarmers, told CNBC. He added that farmers would much rather give the animals away than cull them, but there hasn't been many takers for the free sheep.
Persons: Tim Jackson, Andrew Spencer, Steve McGuire, hasn't Organizations: Meat, Livestock Australia, Sheep Producers Australia, CNBC, Farmers Locations: Australia, New South Wales, Victoria
___Their recommendations include securing land rights for women, promoting women's cooperatives and encouraging women to lead on developing climate policy. The link between phenomena like uterine prolapse and climate change is indirect but significant, said Seema Bhaskaran, who tracks gender issues for the nonprofit Transform Rural India Foundation. “It must prioritize awareness programs that emphasize the specific health challenges women face in the wake of climate change as a critical step towards increasing public knowledge. These efforts will also serve as a call to action for governments, institutions, and communities to prioritize women’s health and well-being as a central component of their climate initiatives,” she added. “Definitely there is a very clear recognition that climate has a health impact and health needs to be considered more seriously,” she said.
Persons: Manju Devi, Devi, hadn’t, ___, Seema Bhaskaran, Bhaskaran, Savita Singh, Singh's, Singh, , Babita Kumari, Kumari, Poonam, COP28, Anjal Prakash, Shweta Narayan Organizations: DELHI, India Climate Journalism, Associated Press, Stanley Center for Peace, Security, Press Trust of India, India's, Transform Rural, Foundation, Climate Central, Population Foundation of India, Bharat Institute of Public, Indian School of Business, United Nations, Health, AP Locations: Delhi, Dubai, India, New Delhi, Syaraul, Uttar Pradesh, Nanu, U.S
Cayman Islands-flagged bulk carrier Puma leaves the sea port of Odesa, amid Russia's attack on Ukraine, in Ukraine September 15, 2023. This will make the Black Sea corridor more accessible to a wider range of exporters," Shmyhal said during the government meeting, video of which was posted on the Telegram messaging platform. Ukraine's government expects a harvest of 79 million tons of grain and oilseeds in 2023, with its 2023/24 exportable surplus totalling about 50 million tons. Ukrainian grain exports have fallen to 9.8 million metric tons as of Nov. 6 in the 2023/24 July-June marketing season from 14.3 million tons a season earlier. Ukraine has traditionally shipped most of its exports through its deep water Black Sea ports.
Persons: Stringer, Denys Shmyhal, Shmyhal, Mykola Solsky, Solsky, Volodymyr Zelenskiy, Pavel Polityuk, Sharon Singleton, Jonathan Oatis Organizations: Puma, REUTERS, Rights, Kyiv, United Nations, Ukrainian, Thomson Locations: Cayman, Odesa, Ukraine, Britain, Russia, Liberia, Ukrainian
By Pavel PolityukKYIV (Reuters) - Ukraine's exports through an alternative Black Sea shipping corridor have reached almost four million metric tons since the route started operating in August, Ukrainian President Volodymyr Zelenskiy said on Tuesday. We are now overcoming the four million tons mark and maintaining positive dynamics," Zelenskiy said on the Telegram messaging app. Ukraine's government expects a harvest of 79 million tons of grain and oilseeds in 2023, with its 2023/24 exportable surplus totalling about 50 million tons. Ukrainian grain exports have fallen to 9.8 million metric tons as of Nov. 6 in the 2023/24 July-June marketing season from 14.3 million tons a season earlier. Ukraine has traditionally shipped most of its exports through its deep water Black Sea ports.
Persons: Pavel Polityuk KYIV, Volodymyr Zelenskiy, Zelenskiy, Mykola Solsky, Solsky, Pavel Polityuk, Sharon Singleton Organizations: United Nations, Officials Locations: Ukraine, Russia, Black, Turkey, Russian
The worsening air pollution is an annual problem for South Asian nations as winter approaches and cold, heavy air traps pollution in a thick layer of smog. South Asia has become the global hotspot for air pollution, with studies finding four of the world's most polluted countries and nine of the 10 most polluted cities in the region. WHY IS POLLUTION IN SOUTH ASIA WORSE THAN OTHER PLACES? An increase in the number of vehicles on roads as the region has developed has also exacerbated the pollution problem. Countries across South Asia will have to coordinate efforts if the region's pollution problem is to be solved, collaborating to enhance monitoring and make policy decisions.
Persons: stubble, Anushree, Sakshi Dayal, Michael Perry Organizations: Swiss Group, REUTERS, ., Thomson Locations: DELHI, South Asia, Asia, New Delhi, Punjab, Haryana, India, Pakistan, Bangladesh's
SEOUL, Nov 12 (Reuters) - South Korean inflation is likely to ease in November to about 3.6% as prices of agricultural products have started to fall, the finance minister said on Sunday. South Korea's consumer price index stood 3.8% higher in October from a year ago, the fastest inflation rate since March 2023 and above the 3.6% forecast by a Reuters poll. If this is the trend, the inflation rate will be around 3.5% to 3.6%, and this kind of price stabilisation will happen gradually, albeit slowly," Finance Minister Choo Kyung-ho told public broadcaster KBS TV. Consumer inflation accelerated for a third month in October amid higher food costs, keeping policymakers on edge as they are monitoring whether current interest rates are tight enough to bring inflation to heel. Reporting by Ju-min Park and Jihoon Lee; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
Persons: Choo Kyung, Jihoon Lee, Simon Cameron, Moore Organizations: KBS TV, Thomson Locations: SEOUL
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