The world's ever-increasing grocery bill

The average UK family now spends £750 a year more on food than 12 months ago. But food inflation shows no sign of slowing down - and that's good news for commodity investors.

The average UK family now spends £750 a year more on food than 12 months ago; the world's grocery bill has jumped by 21% this year; Russian bread prices have doubled; and three people have been killed in a cooking-oil stampede in China.

Food inflation is rising sharply as agricultural markets are straining to keep up with demand, and the "farm crunch", as Ambrose Evans-Pritchard puts it in The Daily Telegraph, is far from over.

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