» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 126 | NO. 32 | Wednesday, February 16, 2011

World Bank: Food Prices at "Dangerous Levels"

AP

Print | Front Page | Email this story | Comments ()

WASHINGTON (AP) World Bank President Robert Zoellick says global food prices have hit "dangerous levels" that could contribute to political instability, push millions of people into poverty and raise the cost of groceries.

The bank says in a new report that global food prices have jumped 29 percent in the past year, and are just 3 percent below the all-time peak hit in 2008. Zoellick says the rising prices have hit people hardest in the developing world because they spend as much as half their income on food.

The World Bank estimates higher prices for corn, wheat and oil have pushed 44 million people into extreme poverty since last June.

Zoellick said he expects food prices to continue to rise, and that export bans and weather disruptions are partly to blame.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 157 3,912
MORTGAGES 0 209 5,475
FORECLOSURE NOTICES 0 21 1,221
BUILDING PERMITS 0 178 9,317
BANKRUPTCIES 0 108 3,764
BUSINESS LICENSES 0 74 1,628
UTILITY CONNECTIONS 0 194 5,137
MARRIAGE LICENSES 0 49 1,073

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.