The Food and Agriculture Organization's Food Price Index rose for a ninth consecutive month in February, hitting levels not seen since July 2014, led by sugar and vegetable oils.
The FAO Food Price Index (FFPI) measures the monthly change in international prices of a basket of food commodities, such as cereals, oilseeds, dairy products, meat, and sugar. FFPI average 116 for the month, versus 113.2 in January.
FFPI has been on an upwards trajectory for the ninth consecutive month. This unwelcoming food inflation around the world has caught the attention of everyone's favorite permabear, SocGen's Albert Edwards, who, unlike Goldman, has already sounded the alarm because this may result in social-instabilities in certain parts of the world.