Global rise in food costs: The real effects

The dollar has hit a new low against the euro, America is on the verge of recession and global food prices are on an upward spiral. In fact, global food prices have risen by 40% in the last nine months. Add to that the fact that food reserves are at their lowest in 30 years and the global economic situation looks grim. But beyond percentages and figures what does this really mean?

To showcase the real effects of the global rise in food costs the BBC has put together an interesting piece featuring six families from around the world, their shopping lists and exactly how their shopping habits have changed because of the rise in prices.

The six families are from Guatemala, India, Kenya, China, Egypt and the UK. In Guatemala the Rodas family has gone from eating meat five times a week to two. In Egypt the Abdulwahab family speculates a household used to be able to eat for one Egyptian pound; today it costs more than five.

The article also itemizes each family’s shopping list, which provides for some eye-opening figures. The Classik family from the UK spends 10% of its monthly income on food, while in Egypt, the Abdulwahab family spends about 80%. Makes you think twice about complaining about how expensive everything is going to be on your next trip to Europe; travel is still a luxury.

Read the whole BBC article here.