The Never-Ending Rise On Food Prices
Worldwide food costs have set its second successive record high during the previous month. While there is continuous unrest in the Middle East, food prices, together with the increasing cost of fuel, will go on soaring. Statistics Canada shows that even consumers are witnessing the growing prices of basic commodities; the country can contain the increases. The notice in price increases will depend on which goods are being bought by the consumers. Economists say that Canada’s food costs will increase gradually over the next few months making an average family to pay 7 percent further in groceries by the end of the 2011.
Excerpts:
"Global food prices rose to their second consecutive record high last month, so surely some of the outsized pain that helped fuel social unrest across northern Africa and the Middle East started to hit here, too, right?”
“That’s why economists say that over the next few months, Canadians’ food costs will gradually rise, with the average family paying up to 7 per cent more for groceries by the end of the year."
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