The cost of food
There are reports this weekend that the UK’s worst winter in 30 years means that we will face rising food prices.
I’m just reading a book on the global financial crisis: “The Storm” by Vince Cable. He explains that it is estimated that, while 10 per cent of family income in spent on food in the USA, the figure rises to 30 per cent for China, 50 per cent for Kenya and sub-Saharan countries at a similar level of development, and 65 per cent in Bangladesh.
It puts things in context.