Inflation is starting to hit the grocery aisle. A measure that gauges the price of food has risen for twelve straight months, according to the UN agency that tracks the statistics, the longest stretch in a decade. Contributing factors include a drought in South America that has devasted crop production of corn, soybeans, coffee and more. Purchases from China have also set records, adding pricing and supply pressure to grain markets and livestock. An increase in biofuel demand is also increasing the cost of cooking oils.
The inflationary pressures are causing commodity prices to rise, prompting food purveyors to pass along the costs to the consumer. Previous periods of rising food costs in 2008 and 2011, led to riots in over thirty countries. Watch for higher grocery prices, folks!
Here is an article with more detail. Please let me know your thoughts.
~ Brian Kasal- The Leadership Matrix
Here’s also a link directly to the UN agency report: World Food Situation, FAO Food Price Index
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