Steeply rising food prices were considered to be one of the contributing factors to the Arab Spring. With this in mind, check the article from Walter Kurtz and Sober Look writing for Pragmatic Capitalism.
As the world’s financial markets focus on the Fed and the ECB, another threat to global growth is showing up across emerging markets.
Food inflation is spreading much faster than anyone had anticipated.
The major US media outfits are focusing on US-based food price increases of a few percent and the fact that burgers in the US will end up costing more. This is certainly painful for the US consumer, but pales in comparison with the havoc food inflation will create across developing nations.
What’s particularly troubling is that the North American drought has coincided with a number of other droughts globally such as those in Russia, India, and even North Korea.
Here are a few examples of what may look like separate news events, but are actually part of this global trend.
Food inflation is setting in.
For case studies from Brazil, Russia, China, Indonesia, Sri Lanka and more, goto: