World’s dollar menu will now cost $1.50
Image: Bloomberg TV USFood is more expensive than ever, says the U.N. We’re talking revolutions in the Middle East, food riots on The Glenn Beck Show-level expensive. Globally, food prices are up by a third since December 2010, putting them well above their last record high, in 2008, when there were food riots from Bangladesh to Egypt. If you’re in the U.S., you probably haven’t noticed: The average American spends less than 10 percent of their income on food. Ben Bernanke, head of the U.S. Federal Reserve, wants you to know that exploding commodities prices are expressly not his fault.
“Global food prices hit new record high,” Climate Progress
“Food Prices Hit Record High, Spurring Worries About Global Unrest,” The New York Times
“Bernanke: Don’t blame Federal Reserve for record-high food prices,” Christian Science Monitor