Asia prepares for potential rise in oil and food prices

Asia Times: Asia is preparing for a second shock from a potential ceasefire collapse between Iran and the United States, with food price increases topping the list of concerns. Japan's inflation problem will become more complicated. South Korea, which sources approximately 70% of its oil from the Middle East, is vulnerable on the logistics front. India's rupee has fallen to its lowest historical level. Indonesia is also struggling with the most severe currency speculation siege since the Asian financial crisis of 1997-1998.

• Carol Kong, economist at Commonwealth Bank of Australia, said: If this conflict continues to drag on, oil prices will continue to rise.
• Currencies across the region—the yen, Indian rupee, Indonesian rupee, and now the peso and baht—are weakening.. | Tasnim

# Asia Prepares for Oil and Food Price Increases