UK’s Members of Parliament said millions of people will be plunged into unmanageable dept this winter unless the government comes up with a solid plan to support those most affected by rising prices.
Wheat prices jumped 6.6% worldwide in a single day with a decisive turnaround under the pressure of the resumption of dialogue between the US and China which seems interested in buying foreign wheat and corn, which marked an increase of 4.6%.
Driven by rising food and energy costs, consumer prices in Eurozone jumped 8.6% over the year through June, hitting another record high since the creation of Euro in 1999.
The UK’s Office for National Statistics (ONS) said the 9% rise in the consumer price index is the highest since records began in 1989, surpassing the 8.4% annual rise in March 1992. The office estimates that inflation would have been higher sometime around 1982.
Wheat prices in Europe and Australia hit record highs this week after India – the world’s second-largest wheat producer – announced an immediate export ban due to a severe heatwave affecting the country since March. Global wheat prices have soared 40% since February 2022, increasing famine and sparking social unrest.
Eurozone inflation in April 2022 is expected to be 7.5%, hitting a record high for the sixth consecutive month.
Inflation in the United States in March 2022 has likely set yet another 40-year high. The country has sees ever-rising costs for food, gasoline, housing and other necessities, threatening the economy.
China is stockpiling food at historically high levels and now has more than half of the world's maize and other grains. By mid-2022, the country is estimated to hold 69% of the world’s corn reserves, 60% of rice, and 51% of wheat. At the end of 2021,…
World stock markets have tumbled on Monday, June 29, 2015 after Greece failed to reach a deal with its foreign creditors over the weekend and imposed new strict measures to deal with their debt crisis.Just before 01:00 UTC on June 29, Greek government closed all country
For the first time, satellite mapping of Latin America shows that the continent's agricultural expansion has waned in the wake of the global economic downturn, according to UBC research."Nearly every agricultural region across Latin America slowed down in