You've already got it, it's already affecting you and you just don't know it! But just what is agflation then?
Well, you've actually heard it described on this very blog on several posts from Peter over the last few months - he just didn't know, like me, that there was a term for it.
"Global corn stocks have fallen to their lowest levels since modern records began as ethanol plants consume an ever-growing share of output".
"The price of wheat has flown up by 53% since March last year to £130 a tonne"
And this is all before the impacts that our rather wet summer will have on local food prices here in the UK.
Crop and foodstuff prices may start to track the price of crude oil? Ridiculous? Well, read this from The Business and figure it for yourself!
I think I'll pop along and put my name down for an allotment tonight!
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