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12 July, 2011

World Food Prices Climb on Sugar, Dairy Costs, Stoking Inflation Pressure

World Food Prices Climb on Sugar, Dairy Costs, Stoking Inflation Pressure - Bloomberg: "World food prices rose in June as the cost of sugar, meat and dairy increased, adding to inflationary pressure that has prompted central banks across the world to raise interest rates...

... Food will remain costly in the next few years and price swings will be around 'for a long time,' Jose Graziano da Silva, the FAO’s director-general elect, said June 27. The European Central Bank raised rates today for the second time this year and China did so for the third time yesterday in a bid to control inflation partly blamed on food costs..."

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