CHART OF THE DAY: Global Food Prices About To Break An All Time High

Inflation in emerging markets is hitting food prices hard, and now we have raw data from the UN to confirm.

The latest report from the UN Food and Agricultural Organization shows prices are back at 2008 levels, and have increased for five months in a row.

The data evaluates 55 different food commodities, so it's a pretty broad gauge of world costs.

Whether or not costs are high enough yet to lead to a world food crisis remains to be seen, but further inflationary pressures on emerging markets, where there are the most mouths to feed, will remain a threat.