Rising Food Prices Means Rising Poverty Levels

A recent study shows that the rise in food prices is pushing more people in developing nations into poverty. Food prices have risen drastically since last year, causing some people to live on $1.25 per day or less. According to a N.Y. Times article:

The bank’s price index soared 29 percent from January 2010 to January 2011 (15 percent just from October to January). Wheat, maize, sugar and edible oils have seen the sharpest price increases in the last six months, with a relatively smaller increase in rice. The rising prices have increased the vulnerability of economies, particularly those that import a high share of their food and have limited capacity for government borrowing and spending.

In hard economic times like now, it's important to try to keep prices as stable as possible. The article suggests taking measures to "calm jittery markets" such as making investments in raising environmentally sustainable agricultural productivity, better risk-management tools, less food intensive biofuel technologies, and climate change adaptation measures. It is important to do whatever possible to make sure that this problem doesn't cause a more drastic level of poverty.