What happens when the current president refuses to suspend the mandate that has turned 44% of our corn crop into inefficacious fuel? Food prices, particularly for meat and dairy, have begun to rise again. (Via Bloomberg)
World food prices rose in September to the highest in six months as dairy and meat producers passed on higher feed costs to consumers, the United Nations’ Food & Agriculture Organization said.
An index of 55 food items tracked by the FAO rose to 215.8 points from a restated 212.8 points in August, the Rome-based agency reported on its website today. Dairy costs jumped the most in more than two years.
Ethanol is just one ingredient in the government-induced food crisis. Wait until QE3 begins to inflate commodity prices.
Last night CNN said that Romney’s claim about food prices going up is misleading. They might want to fact check their fact checker. Or maybe they should just ask any American consumer who shops regularly at grocery stores.
This is yet one more example of how progressive interventions in the economy have regressive effects on the most vulnerable among us – those whom liberals purport to endear.
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