05 Jul '12, 7pm

Good News on Food Prices, While It Lasts

Good News on Food Prices, While It Lasts

Aaron P. Bernstein for The New York Times Drought-damaged corn in Hartford City, Ind. While global food prices dipped again in June, harsh weather in some regions has raised concerns about this year’s harvest and longer-term prices. We’ve finally hit a run of good news about global food prices. But the agency that tracks them, the Food and Agriculture Organization of the United Nations, is warning that that it may not last. The F.A.O.’s global index of food prices fell by 1.8 percent in June by comparison with May’s level, the third consecutive month of decline. The index, closely watched because of the effect of food prices on billions of poor people, is at its lowest point since September 2010, and is 15 percent below a peak reached in February 2011. Still, by historical standards, food prices remain high. Adjusted for inflation, they are more than 40 percent above the p...

Full article: http://green.blogs.nytimes.com/2012/07/05/good-news-on-fo...

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