"Agflation" will change the course of history

``WHILE consumers, savers and financiers in the Gulf fret about the current inflation surge and rightly attribute it to the dollar peg, offplan madness and the property speculation bubble, the prices of cement and steel, rent spirals, wage spikes, the money supply, 30 per cent bank credit growth and the tooth fairy, I am convinced that the Middle East’s next macroeconomic demon will be a spectacular rise in food prices.''