Inflation

Farmers in 35 counties to participate in Illinois WIC and Senior Farmers Market programs for locally grown fruits and vegetables

May 29, 2008 -- SPRINGFIELD – Illinois Governor Rod R. Blagojevich today announced that an additional nine counties will participate in the 2008 Women Infant and Children’s (WIC) and Senior Farmers Market programs.    » read more »

April 22, 2008 -- Jefferson City, Mo. - The influence on commodities markets by Wall Street speculators is hurting both Missouri farmers who aren't benefiting from higher grain prices and Missouri consumers who are paying more for food at the grocery store, Missouri Attorney General Jay Nixon said today. Nixon is urging the federal agency that regulates futures markets, the Commodity Futures Trading Commission (CFTC), to take action to protect consumers and farmers.

Wheat fields: Photo by Farol Tomson (CC)    » read more »

Climbing food and energy prices could threaten the progress that Latin American economies have made in recent years as well as the stability of the region, say Central American leaders.

Cancún, Mexico, 16 April 2008 – Central American leaders at the World Economic Forum on Latin America warned that the impact of climbing food and oil prices could undo recent gains that their economies have made.

A mother and daughter grind mandioca in Amazon region of Brazil: Photo by Julio Pantoja / World Bank (CC)    » read more »

15 April 2008 -- The rising cost of food has triggered riots in a number of countries in recent weeks. Economic policy makers warn that the inflationary effect could push millions back into poverty. And aid organizations are concerned that they will not be able to feed the poorest of the poor.

Woman and child in Bhutan: Photo by Curt Carnemark / World Bank (CC)

A street protest against rising food costs recently turned violent in the Haitian capital Port-au-Prince, as well as in cities in other developing countries. Peter Smerdon of the World Food Program explains what the higher costs mean for aid agencies in Somalia.    » read more »

WASHINGTON, April 9, 2008 – High food prices are threatening recent gains in overcoming poverty and malnutrition, and are likely to persist over the medium term, says a new World Bank Group policy note released today.

“Poor people are suffering daily from the impact of high food prices, especially in urban areas and in low income countries,” said World Bank Group President Robert B. Zoellick.

A typical meal for local inhabitants in the Amazon region of Brazil, near Manaus: Photo by Julio Pantoja / World Bank (CC)    » read more »

Rising Food Prices May Require Stepped Up Social Assistance to Help Poor

WASHINGTON, April 9, 2008 — World Bank officials today warned that the countries of Eastern Europe, Central Europe, and Central Asia face slower economic growth as a result of the economic downturn in the U.S. and Western Europe, and should step up their efforts to protect poor and vulnerable people from the effect of higher food and energy prices.

Rice-fields in a valley near Lao Cai, northern Vietnam: Photo by Tran Thi Hoa / World Bank (CC)    » read more »

09 April 2008 -- World Bank President Robert Zoellick is warning that high food prices could wipe out hard-won gains against poverty and malnutrition.

Zoellick says in a new World Bank report issued Wednesday that people in poor urban areas and low-income countries are suffering daily from the impact of high prices.

Will Eat For Food: Photo by Mikael Altemark (CC)

The report said the price of wheat in Yemen has doubled in the past year and could reverse all the gains made in poverty reduction made in the past 10 years in the country.    » read more »

March 3, 2008 -- Washington, D.C. – Speaker Nancy Pelosi issued the following statement today as the price of oil reached a world record high of $103.95 per barrel, higher now than in 1980, when adjusted for inflation:

“Americans are now paying the price for years of a failed energy policy that has resulted in record energy costs, a dangerous dependence on foreign oil, and the rising threat of global warming. The price of a barrel of oil is now four times higher than it was when President Bush took office and more expensive than in 1980.    » read more »

07 January 2008 -- President Bush says the U.S. economy remains resilient, despite signs of a slowdown in growth and higher unemployment figures.

Recent weeks have seen a sobering string of economic news, from a sharp spike in unemployment to continued housing foreclosures to record-setting energy prices. Many economists are openly discussing the possibility of a recession this year, after more than four years of uninterrupted economic expansion.

President Bush says it is understandable that Americans are anxious about the economy.    » read more »

December 13, 2007 -- ARLINGTON, VIRGINIA – According to newly released figures, wholesale prices jumped by 3.2 percent in November. The increase represents the largest jump in 34 years.

“No other presidential candidate – Republican or Democrat – is talking about the crushing effect of higher prices on average Americans,” said campaign chairman Kent Snyder. “Dr. Paul knows what causes inflation, and he is the one presidential candidate who is giving us the answer.”    » read more »

NEA president warns low teacher pay shortchanges students

December 10, 2007 -- WASHINGTON —Despite the value of education to Americans, the National Education Association published figures today showing that investments in America’s public schools remain stagnant, as the average increase in teacher salary continues to trail behind the rate of inflation for 2005–06. No state has achieved adequate and equitable funding despite years of court cases and education reform proposals.    » read more »

22 August 2007 -- After four months of withholding inflation data, Zimbabwe's Central Statistical Office Wednesday released figures for July showing 12-month inflation running at more than 7,000% compared with 3,700% in March the last report it issued in April.

Cumulative inflation for one year through July totaled 7,634.5% after 7,251% in June, said the statistical office, which the government has said it is overhauling.    » read more »

08/20/2007 -- Prices for food staples are going up. Eggs cost 19.5 percent more than in June, 2006, according to the Bureau of Labor Statistics. Milk was up 13.3 percent; fresh chicken 10 percent; navel oranges 19.8 percent, according to the Labor Department. The price of white bread was 9.6 percent more than the year before. “Despite the Bush administration's continued pronouncements that the economy is going great, many Americans are feeling the pinch…” the Brattleboro Reformer concluded in an editorial.    » read more »

07 August 2007 -- The U.S. central bank decided to hold interest rates steady Tuesday.

In a note explaining the decision, U.S. Federal Reserve officials said inflation remains the biggest risk to economic growth. They said the risk of an economic downturn has increasesd "somewhat."

The Federal Reserve is the agency in charge of preventing inflation, maintaining stable prices, and maximizing employment.

It can cut interest rates to stimulate the economy, or raise them to fight inflation.    » read more »

World Bank report also reviews implementation of Common Agricultural Policy

WARSAW, May 31, 2007―Output growth gained further pace across the 10 new European Union member states in 2006, but is likely to slow down in 2007, according to the latest World Bank EU8+2 Regular Economic Report. Growth accelerated in Estonia, Latvia, Poland, Slovakia, Slovenia, and Romania, while it remained largely unchanged in the Czech Republic, Lithuania, and Bulgaria. Only Hungary experienced a slowdown on the back of its fiscal austerity program.    » read more »