Will food follow fuel and become costlier

     Syllabus: General Studies Paper 3 (Economics) Context: Brent crude prices crossed the $75-per-barrel psychological level last week and closed at $76.18, the highest since october 29, 2018. While the increase in international oil prices, brent was trading at just over $41/barrel a year ago is being fully passed on to indian consumers. India and world: In the below figure, it shows global prices of major agricultural commodities, too, now ruling way above than their levels a year ago. The un food and agriculture organization’s (fao) world food price index (fpi)touched 127.1 points in may, its highest value since september 2011. But unlike....Read More