Cheap commodities underpinned economic growth for most of the 20th century but no longer
Nov 25th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Cheap commodities underpinned economic growth for most of the 20th century but that situation has changed dramatically over the past decade. By the year 2000, the world had become accustomed to relatively low international food prices when price inflation-adjusted food commodities were below those recorded during the Great Depression. However, over just eight years, the prices of commodities have risen to levels not seen since the early 1900s.