Food Prices Jumped 10% in July, Making Inflation Figures a Joke

World Food Prices Jumped by 10% in July

People’s eyes glaze over if you tell them they need to have a supply of emergency food. Well, here’s a sobering fact that may jog those people to their senses.

The World Bank is reporting that world food prices jumped 10 percent in July.

From June to July, corn and wheat prices rose by 25 percent each, soybean prices rose by 17 percent, and only rice prices went down by 4 percent, the World Bank said.

“We cannot allow these historic price hikes to turn into a lifetime of perils as families take their children out of school and eat less nutritious food to compensate for the high prices,” World Bank Group President Jim Yong Kim said. “Countries must strengthen their targeted programs to ease the pressure on the most vulnerable population, and implement the right policies.”

“Africa and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly,” Kim added.

A severe drought in the United States has sharply cut corn and soybean yields this year, while a dry summer in Russia, Ukraine and Kazakhstan has hurt wheat output.

Despite this, the World Bank has said its experts do not foresee a repeat of 2008, when a food price spike triggered riots in some countries.

This is why it’s important to a supply of emergency food for your family. You would be surprised how affordable it is to have a 1 Year Supply of Food for 1 Person

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