Soaring Food Prices Send Millions Into Poverty, Hunger
By John Waggoner
Corn has soared 52% the past 12 months. Sugar’s up 60%. Soybeans have jumped 41%. And wheat costs 24% more than it did a year ago.
For about 44 million people — roughly the population of the New York, Los Angeles and Chicago metropolitan areas combined — the rise in food prices means a descent into extreme poverty and hunger, according to the World Bank.