N. Korea: Rice Price before and after Currency Reform (day-by-day chart)

Free North Korea Radio ^ | 01/28/10 | Kim Eun-ho

[TigerLikesRooster]

Before currency reform, food price in Pyongyang and Chongjin (in old denomination per kg)
Between Sept. and Nov., 2009, rice: 1800~2400 won, corn: 800~1100 won
After currency reform, rice price in Pyongyang and Chongjin (in new denomination per kg)
date		rice price in new won	contributing factor
Dec. 2009	1st ~ 9th	20~ 25	government institutes currency reform 1 new won = 100 old won
	10~15th	30~ 45	price in new currency would not settle properly, and price rises
	20~30th	50~ 60	Public Security impose ban on the use of foreign currency on Dec. 28; price rises
Jan. 2010	1st~5th	80~120	price doubled up to 100 won, rising hour by hour
	6th	130~150	workers' salaries were paid, based on pre-reform pay scale.
	8th	100~120	authorities get tough on price rise; rice price fell.
	10th	60~ 75	after temporary drop, price rises again
	13th	80~180	price skyrockets, when authorities' grip loosened
	15th	170~240	merchants holding out, expecting price rise. No goods on the market
	20th	280	people's anger at the authorities boiling up
	21st	300	authorities backs down on market control; price rises to 300 won nearly simultaneously all over N. Korea. people expect the price returns to the level in old denomination.

[TigerLikesRooster]

P!

[Bulldawg Fan]

Emperor Obama is envious of socialist economies.

[Eric in the Ozarks]

Emperor Hugo is just finding out...

[SevenofNine]

Hey Tiger I hear somewhere there been rice rioting among North Korea women

[Sawdring]

They need a Sam’s Club. $14.98 for a 50Lb bag.

[nw_arizona_granny]

Thanks for pinging me.

Very interesting and not a surprise, it will happen here too.