SubscribeRecord world prices for most staple foods have led to 18% food price inflation in China, 13% in Indonesia and Pakistan, and 10% or more in Latin America, Russia and India, according to the United Nations Food and Agricultural Organisation (FAO). Wheat has doubled in price, maize is nearly 50% higher than a year ago and rice is 20% more expensive, says the UN. Next week the FAO is expected to say that global food reserves are at their lowest in 25 years and that prices will remain high for years.
So, what are you all complaining about?Because the US is now much worse off relative to before. High per-litre fuel taxes common in Western Europe mean a smaller relative increase in consumer prices when the underlying commodity goes up, effectively cushioning the blow.
We all have office jobs and can afford Toyota Priuses and nice bicycles that will never ever get stolen and weather that is lovely all year round!
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posted by BackwardsHatClub at 6:39 PM on November 2, 2007