Thursday, May 15, 2008

Putting a Number on the Food Crisis

6.1 percent. That's how much the cost of food has risen in the last THREE MONTHS!

More numbers, via the washington post:
"The costs of cereal and bakery products increased 1.4 percent from March to April and have risen nearly 20 percent in the past three months on a seasonally adjusted basis. Prices for fats and oils jumped more than 5 percent in April, on a seasonally adjusted annual basis, and have increased more than 26 percent in the past three months. Prices for sugars and sweets increased more than 10 percent during that same period."

Even better, food prices are expected to rise another 5 percent this year, according to Marketplace Weekend. The best part is that people are trying to get rich from the high cost of food which, in turn, makes the cost of food go up. How convenient.

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