World Bank: Food prices at "dangerous levels"

Discussion in 'Economics' started by S2007S, Feb 15, 2011.

  1. S2007S


    But Bubble ben bernanke is saying inflation, what inflation do you speak of???

    Keep the speculators in the market and this is what you will get...Also keep pushing trillions in stimulus to keep the world markets propped up and this is what you get. Its a losing situation from here on in.

    World Bank: Food prices at "dangerous levels"
    World Bank report says food prices are at "dangerous levels" after rising 29 percent in a year

    On Tuesday February 15, 2011, 12:13 pm EST

    WASHINGTON (AP) -- World Bank President Robert Zoellick says global food prices have hit "dangerous levels" that could contribute to political instability, push millions of people into poverty and raise the cost of groceries.

    The bank says in a new report that global food prices have jumped 29 percent in the past year, and are just 3 percent below the all-time peak hit in 2008. Zoellick says the rising prices have hit people hardest in the developing world because they spend as much as half their income on food.

    The World Bank estimates higher prices for corn, wheat and oil have pushed 44 million people into extreme poverty since last June.

    Zoellick said he expects food prices to continue to rise, and that export bans and weather disruptions are partly to blame.
  2. Population growth may also have something to do with it.
  3. pupu


    Humanity is way overdue for a serious culling
  4. bonds


    The prices are still very comforable for the wall street bankers, thats all that matters to Bernanke and company...