GO in the Know: Global Food Prices, Baby Formula Shortage & Top Financial News for May 6
It’s Friday, folks, and GOBankingRates is back one more time this week with the lowdown on the top financial stories out there. Give them a read and enjoy the weekend — we all deserve a good one.
The Big Lead: World Food Prices Still Way Up
World food commodity prices decreased from March’s all-time high, but just slightly — down only 0.8%. That’s still up 29.8% over prices recorded in April 2021, as the Russia-Ukraine war continues to impact markets for staple grains and vegetable oils.
Economy Spotlight: Baby Formula Shortage
Baby formula is getting harder to come by, and families are continuing to struggle with the shortage due to supply chain issues and a recall. According to new data, approximately 40% of the top-selling baby formula products were out of stock at U.S. retailers as of the week ending April 24.
That’s Interesting: 5 States Most Dependent on the Federal Government
Is yours one of them?
Bonus: Cannabis Tourism
Whenever one industry starts making a lot of money, you can bet it will spawn other mini-industries. That’s the case with legal cannabis, which has now grown big enough that it has given birth to its own cannabis tourism industry.
ICYMI: Yesterday’s GO in the Know
More From GOBankingRates