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Are We Exporting Food Inflation?

October 14th, 2013 - 10:19 am

Vendors wait for customers at a stall at a wholesale food market in MumbaiIt’s getting more expensive — much more expensive — to eat in China and India:

Consumer prices in China rose 3.1 percent last month as food costs advanced the most since May 2012, statistics bureau figures showed today in Beijing, while India’s Commerce Ministry said inflation unexpectedly accelerated to a seven-month high. Both gauges increased more than economists had estimated.

“In both countries, in recent months, food seems to be the primary driver of the increase in inflation,” said Robert Prior-Wandesforde, a Singapore-based economist at Credit Suisse Group AG, who added that it’s “not the ideal combination” when prices accelerate as growth slows. “It complicates the life of the policy makers.”

Maybe if we stopped filling our gas tanks with food

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[EDIT -- Ah, never mind.... a couple more posts down the page, you've already got this one. I guess you DO look at InstaPundit.]

Actually, Stephen, InstaPundit (you do look at InstaPundit from time to time, right?) linked to this article a couple of days ago. It seems like there is a whiff of sanity blowing in the wind over at the EPA, these days. I hope this actually happens.

"Federal environmental regulators are expected to significantly reduce their biofuel blending mandates for next year, marking a historic retreat from an ambitious 2007 law, according to industry and trade sources."

http://www.scientificamerican.com/article.cfm?id=epa-may-reduce-ethanol-blending-volumes
1 year ago
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"2015: Third World special forces teams continue to assassinate US Treasury and Federal Bank officials."
1 year ago
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