According to the Food and Agriculture Organization, global food prices increased for the second month in a row. Bad weather in several countries that export food staples is the primary reason for the increase. The FAO’s price index was up 1 percent from January to February; after rising 2 percent from December to January following several months of decline.
The agency forecast near-record wheat production globally for 2012—690 million tons, slightly under the record harvest recorded in 2011. The FAO monitors global prices because sharply higher retail food costs have sparked food riots in some countries over the past few years.
Here in Arizona, retail food prices at the supermarket were up slightly in the fourth quarter of 2011, rising 1% according to the latest Arizona Farm Bureau Federation Market Basket Survey.
- Arizona Food Prices Up 1% From Last Quarter (fillyourplate.org)
- New UN food chief sees 2012 price volatility (seattlepi.com)
- Food, Household Product Prices Rising (abcnews.go.com)