Wheat prices reach record level
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Wheat prices surge to record levels on international markets, triggering the threat of rising bread prices.
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As the euro rose above $1.42 to a new high against the dollar, the price of crude oil also hit a record, briefly surpassing $90 a barrel in after-hours electronic trading.
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The price of oil has continued its sharp rise overnight, closing at a record high. The main contract in New York, light sweet crude for delivery next month, has closed at a record $US46.75 a barrel - up 70 cents on yesterday&#39;s close.
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Corn, milk, bread, and other farm products hit record high prices in 2006 â and will likely keep rising in 2008.
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German exports hit record levels last year, helping the trade surplus to its highest level since unification.
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Australian wheat growers have made their biggest wheat sale to China in more than a decade. The Australian Wheat Board will supply China with 1.5 million tonnes of wheat, with an estimated value of around $US156 million.
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Surging food prices boosted China&#39;s  annual consumer price inflation in May to a 27-month high,  extending a rising trend and reinforcing expectations that  interest rates will rise further.
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WASHINGTON -- Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas.
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Gold hit a record high above $900 an ounce on Monday as turmoil in financial markets and expectations of aggressive U.S. rate cuts helped raise the metal the metal's safe-haven appeal.
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The average price of heating oil in Massachusetts hit $1.99 a gallon yesterday, the highest level for this time of year in at least a decade.
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Consumer prices rose 7.1 percent, the largest increase in more than a decade.
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Gold hit another record high above $898 an ounce on Monday on speculative buying as uncertainties in financial markets and expectations of aggressive U.S. rate cuts raised the metal's safe-haven appeal.
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U.S. producer prices shot up 1.7 percent last month, the biggest gain in nearly 15 years and well above expectations, as energy costs skyrocketed and food prices surged, a government report showed on Tuesday.
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Wholesale prices -- catapulted by more expensive energy and food -- soared last month by the largest amount in more than 14 years.
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Indian inflation hits its highest level in more than three years, boosted by increasing energy and food costs.
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The producer price index rose 2 percent in November, the highest increase in more than 32 years.
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Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas