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Page added on November 17, 2010
The Food Inflation Nightmare Is About To Hit 40% Of The World’s Population
Overnight, the threat of further Chinese tightening multiplied as a result of food price inflation. A basket of 18 key vegetables saw their prices increase by 62.4%, year-over-year, in the first 10 days of November.
But just how likely is Chinese tightening?
Waverly Advisors feel that it is now a near certainty, based on the political realities within China.
The fact that Premier Wen Jiabo chose a supermarket as the location for a press appearance to comment on anti-inflationary measures today indicated how seriously Beijing is taking the potential disruptive impact of rising cost at the cash register.
But this isn’t just a Chinese problem. 40% of the world’s population, found in China, India, and Brazil, is seeing their food prices skyrocket as a result of price inflation. Note India’s has actually decreased, but remains close to double digit territory.
One Comment on "The Food Inflation Nightmare Is About To Hit 40% Of The World’s Population"
KenZ300 on Wed, 17th Nov 2010 8:45 am
Will high oil prices slow the growth of globalization and force us to look to produce sustainable communities?
Wind, solar, geothermal and biofuel energy can be produced locally providing local jobs.