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Inflation Set to Surge on Food Prices.
- Article from:
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Canadian Corporate News
- Article date:
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August 28, 2007
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Copyright informationCOPYRIGHT 2007 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, Aug 28, 2007 (CCNMatthews via COMTEX) -- A combination of falling supply and rising demand for basic food produce is set to bring serious inflationary pressures to central banks later this year.
According to Brian Turner, executive editor of UK personal financial news site, Finance Markets (http://www.financemarkets.co.uk), published by Britecorp Ltd. (http://www.britecorp.co.uk/), the result is going to be a dangerous increase in inflation this Autumn, and threatens consumer spending for the Christmas season.
Extreme weather around the world has already cut harvest predictions among the world's main food producers by between 10%-20%. Flooding in Western Europe ...
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