Wednesday, February 16, 2011

World Bank Sounds Alarm Over High Food Prices

[The World Bank has given a stark warning of the impact of the rising cost of food, saying an estimated 44 million people had been pushed into poverty since last summer by soaring commodity prices.

Robert Zoellick, the Bank's president, said food prices had risen by almost 30% in the past year and were within striking distance of the record levels reached during 2008.

"Global food prices are rising to dangerous levels and threaten tens of millions of poor people around the world," Zoellick said. "The price hike is already pushing millions of people into poverty, and putting stress on the most vulnerable, who spend more than half of their income on food."]

No comments: