“World food prices jumped 10 percent in July as a result of drought conditions in the United States and Eastern Europe, the World Bank said in a statement. From June to July, corn and wheat prices rose by 25 percent each, soybean prices by 17 percent. Overall, the World Bank’s Food Price Index, which tracks the price of internationally traded food commodities, was 6 percent higher than in July of last year, and 1 percent over the previous peak of February 2011.”
http://www.economicpolicyjournal.com/2012/08/world-food-prices-jumped-10-percent-in.html
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