So what has the sub-prime debacle in the US got to do with the current rice crisis in the Philippines? Hedge funds move out of US assets towards oil, gold and other precious metals, and increasingly, in commodities like wheat, corn and rice. Yes, apart from tight supplies, speculation in international financial markets is driving prices up.
The inflation environment we're finding ourself in is quite high, and really serious. There's just no escaping it. *sigh*
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