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Food prices jump will hit poor, World Bank warns

Posted By Adan On August 31, 2012 @ 8:12 am In Global Crisis,Tile | Comments Disabled

BBC
August 31, 2012

photoBBC: A severe drought in the US has led to many farmers having to abandon their 2012 harvest

Global food prices have leapt by 10% in the month of July, raising fears of soaring prices for the planet’s poorest, the World Bank has warned.

The bank said that a US heatwave and drought in parts of Eastern Europe were partly to blame for the rising costs.

The price of key grains such as corn, wheat and soybean saw the most dramatic increases, described by the World Bank president as “historic”.

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