Thursday, April 14, 2011

World Bank: Food Prices Up 36% Since Last Year

Driven in part by higher fuel costs connected to events in the Middle East and North Africa, global food prices are 36 percent above their levels a year ago, according to new data released by the World Bank.

"More poor people are suffering and more people could become poor because of high and volatile food prices,” said World Bank Group President Robert B. Zoellick at his press conference today.

The World Bank’s food price index, which measures global prices, is 36 percent above its level a year earlier and remains close to its 2008 peak. Key increases compared to a year ago include maize (74 percent), wheat (69 percent), soybeans (36 percent) and sugar (21 percent), although rice prices have been stable. In many countries, vegetables, meats, fruits and cooking oil continued to rise with potentially adverse nutritional consequences for the poor.

Most remarkably, given Federal Reserve money printing policies, the strongest food price inflation, at least for the United States is very likely to be still ahead.


  1. My local Micro Brewery just had to raise his prices because of soaring commodity costs.

    Once it affects a mans beer...all hell breaks loose!

  2. Robert,

    FYI when I posted the above comment, after I typed in the code to post, instead of it saying "your comment will be visible after approval" it said "Tu comentario será visible tras la aprobación".