Food shock as ‘agflation’ sees prices rise

IN THE 1970s it was “stagflation”, the simultaneous combination of economic stagnation and high inflation. Now, in the noughties, we have “agflation”
“This comes at a time of unprecedented concerns globally of very low grain stocks. It is not beyond the realms of possibility that we will see a food shock in the next few years,” said Mr Anderson. “We talk about oil shocks. We have gone on assuming that the supermarket shelves will always be loaded