Food cost rising at fastest pace in 40 years globally


Global food prices have continued to grow substantially this year, with the price index shooting up 27%, according to the INFOLine information and analytical agency.“This is one of the most dynamic price increases since the 70s.

Then the price level was about the same, but then it was associated with global financial changes. For 40 years there has not been such a rise in prices that we are now observing,” INFOLine CEO Ivan Fedyakov said, reported RT.

The analyst pointed to the fact that prices for various goods are related. “Prices are growing not only for fruits and vegetables or milk, but also for feed and fertilizers. This triggers a price spiral, and prices rise and will continue to rise, but the other question is that purchasing power is not unlimited.” —TLTP


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