“In this second quarter edition of the Global Economic Outlook, Deloitte economists shed light on recent world events. News headlines have been crowded with the unexpected incidents taking place in the Middle East and Japan. The repercussions of these events have already prompted a renewed focus on rising energy costs and higher food prices, with the implications likely to ripple through the global landscape. The issue begins with three topical articles on food inflation, extreme weather and the extremely wealthy. First, a look at the perfect storm of factors contributing to unusually large increases in food prices worldwide. Next, we peek into household wallets to investigate the rise of wealth inequality across the world. And lastly, the global impact of the recent Tohoku earthquake in Japan is examined. Additionally, this edition of the Global Economic Outlook looks at the evolving recovery, including challenges to growth in affluent markets and the fight against overheating in the emerging world.”