I correspond with someone in India on a regular basis. He tells me people there expect their food prices to skyrocket in 2013.
Food prices will go up here too.Another drought like last year-we will be in serious trouble.
The BBC did a story a few months ago noting that there is double digit food price inflation in the world (15 percent rate).
Food isn’t included in the inflation stats here in the US, but back in 2011 the story from Australia was that food price inflation was running at 15 percent.
I make up the grocery list every week and read the prices and packages when I shop.
Food prices are going up either by the same package costing more or a new smaller package costing the same or slightly less.
THE BIG CULPRIT IN THIS IS THE USE OF FOOD TO MAKE FUEL (EHTANOL).
FWIW I’m in India, and I don’t see that much to indicate a major rise.