The government of India is so sure that speculation makes commodities dearer that it has banned the trading of futures contracts for some of them (although not oil).
In the rapidly expanding shadow banking system, the dearest commodity was good collateral, and AAA securities built out of mortgage products made for a great source of collateral.
These were the armed militants, the rest -- almost everyone in the towns that hosted them -- were spies and donors, suppliers of food, shelter, money and the dearest commodity: information.
Even in America, where inflation has been at historic lows, it jumped to 1.5% at the end of last year.Much of the surge in inflation reflects dearer commodities.
In December in India, for example, food prices rose at an annual rate of 14%, and there has been a run on onions, a dietary staple.As well as taxing consumers, or worse, dearer commodities push up overall inflation, as the latest numbers from the euro area and Britain show.
And with the advent of mass production — which, like clocks, relies on repetitive and predictable mechanisms — clocks became inexpensive commodities without making the passing of time seem any less dear.
No German city makes our chart: the dearest is Munich, at €400,000.In this section Overview Output, prices and jobs The Economist commodity price index Growth in hours worked Trade, exchange rates, budget balances and interest rates Markets Europe's dearest flats Reprints.
Dearer food in India is mainly a reflection of rising commodity prices around the world.
In this section Overview Output, prices and jobs The Economist commodity price index Growth in hours worked Trade, exchange rates, budget balances and interest rates Markets Europe's dearest flats Reprints.
