Food inflation - More notes

Maybe it really is time for the "Victory Garden." As The Wall Street Journal publishes an opinion column that it might be time for Americans to start stockpiling food, there are more reports from around the globe about food price inflation. From the FAS post in China:

On April 16, China's National Bureau of Statistics announced that the CPI for the first quarter of 2008 grew eight percent. This increase was partially a result of a 21 percent increase in food prices, which account for about one third of China's CPI. These increases are mostly attributed to cost-push inflation, increased consumption, and greater demand for food products throughout China. Short global agricultural commodity supplies, devastating winter storms, and animal diseases have also contributed to sharp increase in food prices over the last year in China. The central government has responded with various measures to decrease producer costs and maintain domestic supplies, leading to a generally increased level of government intervention in the market.