Global food prices rose to a record high last month, overtaking even the levels seen during the 2007-2008 food crisis.

The UN Food and Agricultural Organization said its food price index rose to 214.7 points last month, an increase of almost 4.2% from November, according to The Financial Times. The index tracks the wholesale cost of commodities including wheat, corn and meats.

In 2007 and 2008, rocketing food prices caused riots in countries including Haiti and Bangladesh and helped boost inflation in many large economies.

Abdolreza Abbassian, senior economist with the FAO, said the current situation is "alarming" and warned "it will be foolish to assume this is the peak."

In developed economies, companies including McDonald's (MCD) and Kraft (KFT) have raised retail prices to cope with higher food costs.

The price of agricultural commodities has jumped after a series of poor harvests caused by adverse weather. The situation only got worse when major produces such as Russia and Ukraine imposed export restrictions.

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sugarcreekchile

Sadly, Americans will cope with high prices as we have in the past. I hope Congress doesn't add more billions to our deficit by sending more money for food to 3rd world countries where they breed like rats. Like in Haiti, most of the money winds up in the hands of corrupt government officials. We need to be conceerned with the welfare of our country not being savior to the world.

January 05 2011 at 11:57 PM Report abuse +2 rate up rate down Reply
glesh52262

And it's still climbing. Give Bernanke a little more time and inflation will not be able to be checked. Easy money for wall street, low interest for his wall street and banking buddies. will not raise interest to spite the inflation. He is afraid of more deflation in housing and real estate. Let it reach it's affordable level. Still too high from past FED and Banking policies. This was not the depression of the 1930s. Congress better watch Bernanke. Or is it to late? Stock market is reaching a bubble again.

January 05 2011 at 10:50 PM Report abuse +1 rate up rate down Reply
breannajo6101

somehow the future does not look bright, think about it, 5.00 gal gas, 5.00 loaf bread and it will happen unless we the people stand together and insist on a change...stop new entitlements and evaluate old ones, get rid of the ones that have not worked out.. do away with pensions and start 401ks for everyone to include those in high government positions, nothing more for free...

January 05 2011 at 8:30 PM Report abuse +3 rate up rate down Reply
mileater

Anyone is this nation who hasn't seen quite remarkable increases in prices at grocery stores isn't paying attention. Many items have almost doubled in price over the past year or so. There is way too much going on in the world to give any, real, hope for a reversal of that trend. It, in my opinion, would be a positive step regarding grains to stop production of ethanol. You can't drink motor vehicle fuel, and the profits producers of it should be reminded that the money they make is inedible as well. It would be unlikely that the numerous people who don't have jobs would be able to stock up, even a little on nonperishable foodstuffs. I do not believe that things, at least in the short term are going to improve regarding the food supply. Long term, that's anyone's guess dependent on growing conditions which in many areas are dicey at best. Consider long term drought, freezes, floods, well, the whole gamut of adversity. These situations must be taken into consideration, like it or not. It's just my opinion, of course, however, I've been around going on 70 years and I haven't seen anything like current conditions and trends in all that time.

January 05 2011 at 8:11 PM Report abuse +2 rate up rate down Reply
donabrdluv

Because there was no raise in our social security because the cost of living did not go up, I'm so happy to hear that the cost of eating has not gone up, or the cost of driving, or the cost of you name it has not gone up. Ya Right!!!!!

January 05 2011 at 7:28 PM Report abuse +4 rate up rate down Reply
1 reply to donabrdluv's comment
blank

Did members of Congress give themselves a raise?

January 05 2011 at 7:40 PM Report abuse +3 rate up rate down Reply
sulandherb

Everything has gone up except our paychecks.
Sadly, the cheapest food is the worst for us, so we can expect an increase in medical care costs as well. If gas prices continue increasing, it will surely stall the so-called recovery as well.

January 05 2011 at 7:27 PM Report abuse +5 rate up rate down Reply
f9fflyby

FACT...WHEN A FARMER MAKES WAY MORE MONEY WITH GOVERNMENT SUBSITIES THAN THEY WOULD IF THEY PLANTED CROPS, WHY WOULD THEY NOT LET THERE FARM LAND LAY BARE?
GET REAL FOLKS!!!
Bob

January 05 2011 at 6:58 PM Report abuse +5 rate up rate down Reply
blueeyesolsen

The US may have plenty of grain, but we are sure as hell short on brains! We have let our congress, republicrats and demicans, same thing, all traitors and criminals, who first created, and have constantly maintained the fiat money system that uses the congress' other creation, the IRS, to steal the working people's wealth and transfer it to the people who own the 300 shares of stock in the Federal Reserve Bank. Most of those owners are not even Americans, and the names of the real owners are secret. The "currency" we carry around is NOT money! It says right on it what it is - a NOTE. A note is evidence of a debt, regardless of the "legal tender" statement on it. We OWE, and pay INTEREST ON, every dollar of those notes. THAT'S what your income tax goes for, the interest. And that private bank paid about two cents to have every one of those bills printed. The interest is paid on the face value. Congress created, and every one of them knows about this scam and for 97 years has taken a minor share of the loot that has made the owners of the 300 shares wealthy beyond imagination, as well as giving them the real control of our government. All the while, like fools, we bicker about Republicans or Democrats while neither of the parties has any real say in what is going on - the rape of the U S citizen.

January 05 2011 at 6:41 PM Report abuse +1 rate up rate down Reply
1 reply to blueeyesolsen's comment
ak841

People where not happy when Clinton had a surplus, they elected Bush again and again and screwed the whole world up. Killing 7,000 troops in 2 WARS

January 05 2011 at 9:09 PM Report abuse -2 rate up rate down Reply
notanaxkiller

Every year...bad weather and poor harvests. Sound like a bunch of bull?

January 05 2011 at 6:39 PM Report abuse +2 rate up rate down Reply
1 reply to notanaxkiller's comment
gardeningatnite

Yep! And, money grows on trees?

January 05 2011 at 6:39 PM Report abuse +1 rate up rate down Reply
notanaxkiller

But the cost of living has gone down!

January 05 2011 at 6:35 PM Report abuse +1 rate up rate down Reply