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Food prices are skyrocketing, and economists are worried |
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User ID: 77975641 Canada 11/29/2019 01:56 PM Report Abusive Post Report Copyright Violation | Food prices are skyrocketing, and economists are worried [ link to www.aljazeera.com (secure)] Weather shocks, higher oil prices and a sharp depreciation in the US dollar could make food expensive, warn experts. Pork prices have been surging in China as African swine fever ravaged supply, while India has been struggling with eye-watering onion prices due to extended monsoons [File: Dania Maxwell/Bloomberg] Food prices are climbing fast in the world's biggest emerging markets, posing a possible inflation threat after months of dormant pressures. Asia's two largest developing economies face a price surge for staple products -- pork in China and onions in India -- that are central to consumers' diets. In Turkey and Nigeria, supply problems are driving up costs, while United Nations data show global food prices rose at the fastest pace in October in more than two years. While the spike is painful for poorer consumers, it hasn't reached a level to convince central banks to pull the brake on policy easing, as they remain focused on boosting economic growth amid a global slowdown. Average inflation across emerging markets is still at an all-time low, according to a Bloomberg gauge of consumer price indexes. "We think it's likely they would look through food inflation that is concentrated on a handful of products and driven by idiosyncratic factors," said Taimur Baig, managing director and chief economist at DBS Bank Ltd. in Singapore. "Bias toward further monetary and fiscal easing will remain in 2020, in our view." Price Shock Nevertheless, the threat of a price shock is real. Nomura Holdings Inc. economists recently warned of three potential triggers of higher food costs -- weather-related shocks, higher oil prices and a sharp depreciation in the dollar -- saying emerging and frontier markets are most at risk since food costs make up a larger portion of their consumers' income. The key will be whether the increases begin to feed into consumers' longer-term inflation expectations, which could drive up wages and core inflation in a spiral, said Sonal Varma, Nomura's chief economist for India and Asia ex-Japan. read..and... China Pork prices doubled in October following massive livestock culls to protect against swine fever, pushing up consumer inflation to 3.8%, the highest level since January 2012. read...and India In India, where spikes in the cost of onions have sparked social unrest in years past, a 26% year-on-year rise in vegetable prices pushed October headline inflation above the Reserve Bank's threshold of 4% for the first time in 15 months. read...and.. Turkey Food inflation hovered near 30% read..and... Africa has pushed Zambian inflation to a three-year high, and monthly food inflation in Zimbabwe has reached almost 50% beau voir |
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Anonymous Coward User ID: 76770632 United States 11/29/2019 01:56 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Yep |
Anonymous Coward User ID: 73164535 United States 11/29/2019 01:58 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Economists have government jobs...I doubt they are worried about much other than what new car to buy this year. |
Anonymous Coward User ID: 49598504 United States 11/29/2019 01:58 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried No way This is Trump's economy everything is perfect lol |
Anonymous Coward User ID: 8309545 United States 11/29/2019 01:59 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried lets see. housing market is so high. make sense for food prices to skyrocket. :D |
Anonymous Coward User ID: 73848670 Canada 11/29/2019 02:00 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Just forget about the earth and keep paying Bezos so he can go establish space colonies where he can enslave you. |
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Anonymous Coward User ID: 73848670 Canada 11/29/2019 02:01 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Humans already have the tech to completely offset this. They are choosing not to use it. They are CHOOSING not to feed the world. |
Anonymous Coward User ID: 60052792 United States 11/29/2019 02:01 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Hog futures and cut pork prices down in Missouri this week. |
Anonymous Coward User ID: 4466048 United States 11/29/2019 02:01 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Economists are as accurate as weathermen. |
Anonymous Coward User ID: 76809044 United States 11/29/2019 02:01 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried hyperinflation. nothing to see here folks... |
BRIEF
User ID: 39607259 United States 11/29/2019 02:06 PM
Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Don't worry, food will never go out of style, people will always buy it... I never forgive and I never forget I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked. |
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BRIEF
User ID: 39607259 United States 11/29/2019 02:07 PM
Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Food is always the first thing on the budget... I never forgive and I never forget I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked. |
Anonymous Coward User ID: 78206906 Japan 11/29/2019 02:08 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Don't worry, food will never go out of style, people will always buy it...
Quoting: BRIEF They will legalize crack or meth which kills the appetite.... |
Icey
User ID: 77119763 United States 11/29/2019 02:09 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Welcome to the new ice age.I am SNOWIE. WELCOME TO THE NEW ICE AGE. TRY NOT TO STARVE. |
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User ID: 77975641 Canada 11/29/2019 02:10 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried lets see. housing market is so high. make sense for food prices to skyrocket. :D
Quoting: Anonymous Coward 8309545 THIS! 5* beau voir |
Anonymous Coward User ID: 78045198 United States 11/29/2019 02:10 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried NWO and GLOBALISM at work lowering us to a third world country. Every global investor needs to be thrown in prison as well as their whole fucking family. |
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User ID: 77975641 Canada 11/29/2019 02:11 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried THANK YOU for PIN LOVE,XXX! beau voir |
Anonymous Coward User ID: 77849624 United States 11/29/2019 02:12 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried you think its bad now, wait till democrats get back in power
they are raising taxes on pot, can you imagine what is in store for us in the future??
They want a $3.00 a gallon gas tax nationwide. |
Truth Reaper
User ID: 78158363 United States 11/29/2019 02:14 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Soylent Green is you! I lost my apathy. |
Anonymous Coward User ID: 77735821 United States 11/29/2019 02:15 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried More food doom?
You should have seen Thanksgiving dinner at Mom's house yesterday. I never ate so much in my life! And Mom said she didn't really notice any sticker shock.
What's "Mom" upside down? "WOW"! |
Anonymous Coward User ID: 37524265 Canada 11/29/2019 02:17 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried sucks |
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Anonymous Coward User ID: 78004711 United States 11/29/2019 02:19 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried TPTB could lower the price of food if they wanted to |
Anonymous Coward User ID: 78004711 United States 11/29/2019 02:20 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried More food doom?
You should have seen Thanksgiving dinner at Mom's house yesterday. I never ate so much in my life! And Mom said she didn't really notice any sticker shock.
What's "Mom" upside down? "WOW"!
Quoting: Anonymous Coward 77735821 Wow |
Anonymous Coward User ID: 77641442 Mexico 11/29/2019 02:21 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried |
Anonymous Coward User ID: 75282507 United States 11/29/2019 02:22 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried No way This is Trump's economy everything is perfect lol
Quoting: Anonymous Coward 49598504 Your comment is simply proof of ignorance! |
Anonymous Coward User ID: 77988297 United States 11/29/2019 02:22 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried I haven't noticed any skyrocketing but if all the farmland floods out what do you expect? are you that stupid? |
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Anonymous Coward User ID: 55611245 United States 11/29/2019 02:28 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Welcome to the new ice age.
Quoting: Icey Grand solar minimums and global cooling cause crop failures, which have coincided with the fall of empires and dynasties. |
Anonymous Coward User ID: 78187847 United States 11/29/2019 02:30 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Liberals will be fine as they eat so much dick they'll never go hungry. |
Anonymous Coward User ID: 77882344 United States 11/29/2019 02:31 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried NWO and GLOBALISM at work lowering us to a third world country. Every global investor needs to be thrown in prison as well as their whole fucking family.
Quoting: Anonymous Coward 78045198 THIS!!! |
Louis in Richmond
That is my arm now; broken for 7 months
User ID: 73126761 United States 11/29/2019 02:34 PM
Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried +5 and green. People always buy food, and I have watched as the prices inch ever higher each month. Until your military service has required you neutralize enemy combatants and invaders in the defense of your country, don't presume to tell us that have defended you that you don't support every shot we fired to eliminate that enemy. |
Anonymous Coward User ID: 77068801 Canada 11/29/2019 02:43 PM Report Abusive Post Report Copyright Violation | Re: Food prices are skyrocketing, and economists are worried Economists have government jobs...I doubt they are worried about much other than what new car to buy this year.
Quoting: Anonymous Coward 73164535 True dat. |
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