• HSBC

Soaring prices spark unrest

  • Thursday, May 08 - 2008 at 09:07

Soaring costs for food and other basic commodities are pushing millions of people across the Middle East towards poverty and setting off strikes and unrest, reported Gulf Times. There has been a 75% rise in food prices since 2005, much of it in the past year, according to the Economist food prices index. Many Arab countries are heavily reliant on food imports, which makes them more vulnerable to global rises in commodity prices. In Egypt, 11 people have died in the last two months in scuffles as they waited in queues to buy subsidised bread.

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