You Are Being Warned

by Dr. Mark Sircus

'Prices are expected to increase due to inclement weather patterns influencing international commodity production and demand. Extreme cold snaps and heavy snowfall in Europe and the United States are increasing demand for oil and destroying or hurting crops; droughts and deluges in Australia are wreaking havoc on sugar and wheat production; Argentinean corn production is being threatened by weather patterns; and parts of China are expected to run short of oil and even coal in the coming winter months. “Things” are getting more expensive.

'That is a fact. Energy, metals, and the ‘softs’ (grains and cotton) are all headed higher both in the US and elsewhere across the world. In India food inflation is taking off like a plane off a runway, and China is not far behind. India’s annual food inflation went up again for another week on the back of rising prices of fruits, vegetables, and milk and stood at 9.46 percent for the week ending 4 December. Food inflation was 8.60 percent in the previous week.

'This is the second consecutive week of rise in food inflation. While prices of rice rose by 1.47 percent, vegetables went up by one percent, milk by 17.76 percent, and fruits by 19.75 percent on an annual basis. Pulses and wheat prices declined by 4.24 percent and 11.46 percent, respectively. Onions became costlier by 29.93 Readpercent on an annual basis.'

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