Analysis of the deviation of prices on grocery products before and Essay

Analysis of the deviation of prices on grocery products before and during economic crisis - Essay Example In all recent global downturns, commodity prices declined sharply (see table), suggesting a disconnect between commodity prices and the ongoing slowdown of the global economy. Much of the apparent disconnect reflects the fact that emerging and developing economies, which have been responsible for the bulk of recent commodity demand growth, have so far been less affected by the slowing growth in advanced economies. More recently, the price momentum was reinforced by financial factors" (International Monetary Fund). An article from the IMF says that "In the advanced economies, headline inflation accelerated to around 4 percent in July, driven mainly by oil price rises. However, underlying or core inflation has remained contained and, with commodity prices now in retreat, inflation is expected to moderate quickly, notwithstanding the recent-probably temporary-oil price increase" (Lipsky). Theinflation resurgence has gone much further in emerging and developing economies, although risks have receded recently. Headline inflation climbed to about 9 percent in the aggregate by mid-year, and a wide range of countries are experiencing double-digit inflation. Underlying inflation has increased markedly in these economies, underscoring their less well anchored inflation expectations and the capacity pressures stemming from still-rapid growth. But the balance of risks between inflation and growth is shifting for many emerging economies" (Lipsky). The surge of prices is felt around the world; however it is felt more extremely in the emerging markets. In particular focus to commodity prices, "they have retreated recently, but are expected to remain high and volatile. The prices of major agricultural commodities have moderated, although the pass-through to food prices may be more drawn out than for oil and energy prices. Nevertheless, if the trends in commodities prices are sustained, this would help create new space for countercyclical monetary, and in some cases, budgetary policies" (Lipsky). The prices of commodities are observed to be volatile, meaning they are expected to fluctuate through the course of time. Although volatile, the figure will remain to be high compared to the normal prices. This is observed in the data above, with particular reference to the Russian commodity market. One significant factor in the determination of commodity prices is the prevailing price of oil. "Oil prices have moved off their highs, but uncertainty remains high. Crude oil prices have declined about 25 percent from the mid-July peak, but they are still about 10 percent higher, on average, than at the beginning of 2008 and oil prices have risen in recent days. Increasing signs of weaker global growth, indication of some demand response to

Extreme body piercing (or modification) Essay Example | Topics and Well Written Essays - 500 words

Extreme body piercing (or modification) - Essay Example It was believed that the pharaohs of Egypt were the only one who could pierce their naval and anyone else doing so was punished by death penalty. In the Roman Empire, soldiers and other people got their nipples pierced to show their loyalty towards their king. Julius Caesar also wore nipple ring to show his prowess and his alliance with his soldiers. The nipple ring was a strong link which united the roman soldiers. It was also considered a macho sign signifying vigour and potency. The African and some south Asian tribes have very bizarre traditions and rituals of piercing objects in their body parts as part of their religious ceremonies. Extreme body piercing has often been treated as an expression of penitence in many religious practices of African and South American tribes. Tongue piercing was practiced as an appeasement to God so that His blessings could be obtained for their tribes and general welfare. In ancient Aztecs ‘Aztec and Maya were known for their skills as great warriors and they indulged in septum piercing so that they seemed more ferocious to their enemies’ (internet). In the late sixties, piercing became popular in the west when the hippies started piercing their nose, ears and naval and adorning them with jewelleries. Later the members of gay communities pierced their one ear and started wearing earrings as a way of declaring their sexual preference. This was followed by punk cultures of the seventies for whom piercing their body parts and wearing jewellery was seen as a sign of rebellion. The punks took the body piercing from the conventional to the extreme by piercing their tongues, cheeks and other body parts. Today, piercing of body parts has become a popular way of flaunting not only their bodies but their intent of purpose of declaring their bizarre sexual preferences and profound body experiences bordering on obsession. Body