The World Bank, releasing its latest 'Food Price Watch' report, said on Thursday (29th November) that global food prices remain stable, but worryingly close to record levels seen in 2008, when a world food crisis contributed to uprisings around the world.

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World Bank rapporteur Otaviano Canuto said more expensive food risks becoming the "new norm," increasing hunger across the world. He added that this situation is inacceptable and the world cannot afford to "get used to or be complacent" about higher prices.

Overall, food prices are 7 percent higher than they were this time in 2011. Grains have driven prices up by the highest amount. Having risen 12 percent since 2011 grain prices are approaching their 2008 levels; in July and August maize and wheat prices reached record highs when fears over drought in the United States sparked grain rallies.   

Prices have remained high due to challenging conditions, including drought in the US, Black Sea region and Southern Europe, which also suffered extremely wet weather elsewhere.

The World Bank urged governments around the world to strengthen safety nets for their poorest citizens, as price volatility is expected to continue. In the UK, the Trussell Trust, the country's largest organiser of food banks, announced last month that the number of people being referred for food aid has doubled in the past six months, and is expected to almost double again during the first half of next year.

The UN Food and Agriculture Organisation will release the findings of its own Food Price Index early next month. The World Bank analysis is released on a quarterly basis, whilst the UN FAO examines food prices each month.

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