Food Prices Spike: Causes and Consequences
Rising oil costs, changing weather patterns and new government policies have caused food prices to rise recently. In addition, global demand for food has increased. When demand increases, prices increase as well. Deborah Cross, Food Industry Analyst at Euromonitor, discusses these factors in more detail, highlighting why price increases could bring positive changes in consumer behavior. For example, consumers may begin growing their own food to combat the rising costs.
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