Food prices a major concern, says World Bank president
Feb 18, 2011
Egypt and Tunisia's political unrest is spreading to Yemen and Bahrain, while rising food prices and food security concerns continue to be stressed as underlying driving forces, according to a new report by CNN.
The social discontent relating to higher food prices affects the poor more than the rich.
"Our research shows higher global wheat prices have directly fed into sharp increases in domestic wheat prices in many countries. In just six months, prices for wheat rose by more than 50% in Kyrgyzstan, 45% in Bangladesh and 33% in Mongolia," Robert Zoellick, president of the World Bank, said recently, listing three countries currently ranked among the medium to low regions in terms of human development.
"This is something we need to really pay attention to, because it impacts the most vulnerable: children, women, pregnant women and it really hits the poor," Ngozi Iweala, managing director of the World Bank, told the news source.
In China, many wealthy people have been celebrating the Chinese Lunar New Year, while droughts and inflation plague the poor, according to a separate CNN report. The Chinese central bank announced that it will take the necessary monetary policy measures to maintain price stability and stave off inflation, according to Reuters.