Monday, September 17, 2007

Rear Window vs. Front Window?

Soaring UK food price inflation a myth - BRC
However 'the evidence of the year so far shows the UK's highly competitive grocery market will continue to shield customers and talk of huge increases in food prices is simply scaremongering,' the BRC added.

"So far" is a very backward looking statement.

Food prices going up, British shoppers warned
This week, the food industry and the United Nations predicted that a combination of factors would result in higher prices for everyday staples, with potentially devastating consequences for countries around the world.

"Predicted" is a very forward looking statement.

Nobody knows what the future will bring. I can't say which prediction is correct. At some point, if the price of oil continues to rise, it will affect the price of food though. I don't think that's rocket science.

See Also:
Stagflation: Slow Growth With High Inflation

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