Food Price Watch: Review and Outlook

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Recently, the National Bureau of Statistics released the selected food prices watch for Feb-2020. According to the report, the majority of the food items recorded an m/m decline in prices as the impact of land border closure eased during the period. Notably, 28 of the 43 food items surveyed, recorded an m/m decline in prices. Also, the largest m/m price decline was recorded on the average price of Beans, Evaporated tin milk, Agric eggs, and Rice.

Looking ahead, we expect the pressure on food prices to resurface as the domestic outbreak of COVID-19 sparks panic purchase of food items and weaken domestic supply. Also, a declaration of a total lockdown across the country might further exacerbate pressures on food prices. Additionally, we note that the continued closure of all land borders and resumption of the domestic planting season in March-2020 would constrain
the overall supply levels.

Food Price Watch: Review and Outlook - Brand Spur

Factoring all the above, we expect the food inflation sub-index for the month of March-2020 to cross into the 15.0% region (Feb-2020: 14.9%). As such, we expect the headline inflation to increase from the current 12.20% y/y to 12.35% y/y in March 2020.

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Latest News

Chubb launches “Chubb LifeBalance” in Korea, a 360 degree personalised Health and Well-being App

SEOUL, SOUTH KOREA - Media OutReach - 12 April 2021 - Chubb today announced its release of "Chubb LifeBalance" in Korea, a digital health and well-being application that encourages people to incorporate healthy routines into their lifestyle.

Food Price Watch: Review and Outlook - Brand Spur

Chubb LifeBalance comprehensively assesses the lifestyle of users and provides a holistic view of health to help them to objectively measure and manage their own health condition.

Once users set their personal goals within the app, such as walking 5,000 steps a day, reducing snack consumption, and establishing a meditation and/or sleep routine etc., the coaching functionality starts to monitor and encourage the users to achieve their goals.

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Chubb LifeBalance tracks and records over 115 different activities—including yoga, swimming, boxing, and meditation, and lets users invite their friends and family to join challenges and compete in these activities together. It connects with a full range of health devices and other apps such as Fitbit, Strava and Garmin.

Based on over 2,500 clinical papers and years of clinical data collected from over 300 million people, reputable teams from the Massachusetts Institute of Technology (MIT) USA participated in building a credible health score system behind the app so that users can effectively monitor their overall health and well-being.

The health points, based on activities and goal achievements set on the app, can be exchanged for mobile vouchers at various coffee shops, gas stations, and grocery stores to enjoy varied benefits. These are only available as exclusive incentives to existing Chubb customers.

Edward Ler, Country President of Chubb's general insurance business in Korea said, "Chubb LifeBalance was created to offer more advanced and personalized health and well-being services for the customers in Korea who lead busy lifestyles. We believe Chubb LifeBalance will help our customers strive towards a sustainable and balanced lifestyle."

The app is currently available on the Google Play Store and Apple App Store.

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at:

Food Price Watch: Review and Outlook - Brand Spur
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