Global Food-Price Index Hits Record
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Global Food-Price Index Hits Record
By Alex MacDonald and Liam Pleven
A prominent indicator of international food prices hit a record high in December, sounding a warning about looming threats to the world’s poor and to global growth.
The United Nations Food and Agriculture Organization’s monthly food price index rose for the sixth consecutive month to 214.7, topping the previous peak, 213.5, reached in June 2008.
The index doesn’t measure domestic retail prices, which can be affected by a wide range of factors, including government subsidies. Instead, the index tracks export prices and can still serve as a barometer of what consumers may pay.
The prior record was set months after violent food riots struck several nations, an experience that is heightening concerns about potential consequences from the current rise.
