Sunday, Jan 07, 2007
Food price inflation rising fast
Observer: On the breadline: Britons to pay £1 a loaf... and rising
Gerard Lyons, chief economist at the Standard Chartered Bank, said the rising cost of wheat, as well as corn, sugar and soya beans, could help raise the inflation rate and the cost of food generally.
'Intense competition has been keeping inflation down... But those rises are adding to inflation jitters. The Bank of England has already expressed concern.'........
Posted by archie @ 10:07 AM (156 views) Add Comment
2 Comments
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1. Mjchum said...
El Nino . . . causing widespread freakish weather across the world at present (No snow in Europe/parts of USA, snow in Victoria, Aus and in the summer, hottest year on record predicted for UK 2007). Would be interesting to plot crop yields/prices adjusted for inflation against El Nino events. Could be a way to predict certain soft commodities in the future.
2. Mr Plumbase said...
Let them eat cake then.