Food Prices Rise to Near-Record as Inflation Accelerates

Food Prices Rise to Near-Record as Inflation Accelerates

By Donal on Thu, 05/05/2011 - 9:18am |

World food prices rose to near a record in April as grain costs advanced, adding pressure to inflation that is accelerating from Beijing to Brasilia and spurring central banks to raise interest rates. ...

The cost of living in the U.S. rose at its fastest pace since December 2009 in the 12 months ended in March, the same month in which Chinese consumer prices rose by the most since 2008. The European Central Bank raised interest rates on April 7, joining China, India, Poland and Sweden in a bid to control inflation partly blamed on food costs. Costlier food also contributed to riots across northern Africa and the Middle East that toppled leaders in Egypt and Tunisia this year.

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http://www.bloomberg.com/news/2011-05-05/food-prices-approach-record-high-as-grain-prices-fuel-inflation-worldwide.html

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The US doesn't acknowledge food prices inflation. It's something Congress should address, however, since the GOPer's are hellbent on disrupting the legislative process until they get all their business related tax cuts and deregulation approved, I seriously doubt anything will happen as food prices outpace the cost of a gallon of gas.

Good reason to vote a straight Democrat ticket.

by Beetlejuice on Thu, 05/05/2011 - 1:47pm

This kind of links to you blog on oil. When the price of gas and diesel goes up, transportation costs go up. And the cost of agriculture goes up since the price of fertilizer and the fuel to run the machinery goes up as well.

Most grocery stores and restaurants depend on twice weekly (or more) deliveries of food and other items.

by cmaukonen on Thu, 05/05/2011 - 3:25pm

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