|Wikimedia Commons image|
Hard-pressed consumers face higher grocery bills after new figures showed that food prices jumped by 1.3% in June to within a whisker of their record high.
The United Nations Food and Agriculture Organisation (FAO) food price index increased by 3 points to 234 points last month – a 39% increase on the year – as concerns about weak Brazilian sugar production sent sugar prices soaring by 14%, outweighing a decline in cereal costs.
As analysts at Goldman Sachs predicted that commodity prices would continue rising into next year, the average food price is now only 1.6% below February's record, when the FAO's basket of 55 food commodities reached 238 points.
Read Full Article
RELATED ACTIVIST POST ARTICLES:
7 Reasons Food Shortages Will Become a Global Crisis
5 Simple Ways to Protect Yourself From Food Inflation
You Might Also Like
BE THE CHANGE! PLEASE SHARE THIS USING THE TOOLS BELOW
If you enjoy our work, please donate to keep our website going.