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EU food inflation highest since 1996

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Food price inflation in the European Union rose above seven percent in March and April, almost double the overall inflation rate, and the highest rates since records began in 1996, official figures showed.

Food prices rose by 7.1 percent annually in April, after touching 7.2 percent in March, the EU's statistical office Eurostat reported.

The overall inflation rate in April was 3.6 percent, boosted by food and fuel price rises.

Experts blame the soaring prices on bad weather, record high fuel prices, which have hit the world's poorest countries the hardest, and increased demand from the emerging powers such as China and India.
NCDEX SUGARM200JUN12 20 June 2012 contract was trading at Rs 0 . What's your view on it?
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