Rising food prices push 44 million into extreme poverty

According to the Food and Agriculture Organization of the United Nations (FAO), the FAO Food Price Index (FFPI) rose for the seventh consecutive month, averaging 231 points in January 2011, up 3.4 percent from December 2010 and the highest (in both real and nominal terms) since the index has been backtracked in 1990.

Rising global food prices has pushed an estimated 44 million more people into extreme poverty in developing countries over the past eight months, the World Bank reports.

The poverty-fighting institution said its food price index increased by 15 per cent between October, 2010, and January, 2011, and is just 3 per cent below its 2008 peak during the last food price crisis.

But unlike during the 2007-2008 food crisis, higher prices have not yet affected all regions of the world.

Across Asia and in some parts of Latin America and Eastern Europe countries, costlier food is pushing up inflation pressures, while good harvests of staple foods in Sub-Saharan Africa has so far spared that region from rising prices.

Read the rest of the story here.

Share and Recommend:
  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • Add to favorites
  • email
  • Print
  • PDF