Here we go. Just browsing today's business news and here's the first bout of the recession talk:
Quote:
The UK is "more exposed" to rising food price rises than its peers, adding to recessionary fears, according to a report by Ernst & Young.
Its Item Club says "the implications for business are profound" - making it more likely firms will raise prices.
Unlike the US which has a balance of food and France which has a surplus, the UK has a trade deficit in food.
World food prices have risen due to population growth and poor climate in the major cereal producing nations.
Another factor is a growth in the production of biofuels, as crops are being turned into energy rather than food for humans, the report states. Increasing wealth in developing nations - especially China - has prompted a higher demand for meat and livestock products.
Read More: http://news.bbc.co.uk/1/hi/business/7408833.stm
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Interesting reading for those intrigued by this topic.