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World Bank and costs of day trip to Portrush

This column's penchant for all things commodity related has been reined in recently but can't stay quiet today. A report out yesterday from The World Bank found food prices had jumped 36% since April 2010. That's a lot. If your basket of shopping cost £100 last April, then the same will set you back £136 today. The Office of National Statistics says the average person was paid about £500 a week in 2010, a figure which is unlikely to have changed much by 2011. Tax that £500 and suddenly the extra £36 means the big shop will need to last a lot longer if the average family is to have anything left over for a holiday or new clothes.

But The World Bank isn't worried about the likes of us having to make do with a day trip to Portrush.