Food shock as ‘agflation’ sees prices rise

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IN THE 1970s it was “stagflation”, the simultaneous combination of economic stagnation and high inflation. Now, in the noughties, we have “agflation”
“This comes at a time of unprecedented concerns globally of very low grain stocks. It is not beyond the realms of possibility that we will see a food shock in the next few years,” said Mr Anderson. “We talk about oil shocks. We have gone on assuming that the supermarket shelves will always be loaded