Comhroinn Fuaime

In the year 2000, the average global oil price was close to $25 per barrel, and the food price index stood at just under 90 points. Over the following four years both prices remained relatively stable, before rising steadily between 2004 and 2007. By 2007, the average oil price had more than doubled, to nearly $60 per barrel, and food prices had risen by around 50 points.