Global Food Prices Rise Again, Hitting New Decade High

Sharing is Caring!

Global food inflation continues to rise for the fourth consecutive month in November, reaching levels not seen in a decade, led mainly by robust demand for wheat and dairy products, according to a new report via the Food and Agriculture Organization of the United Nations (FAO).

FAO’s food price index, which tracks monthly changes in the international prices of food commodities, rose 1.2% to 134.4 in November from October, driven by continued demand for food. The index is up 27.3% YoY.

See also  Two-Thirds of Americans Say Biden Shouldn’t Run Again

Food prices remain at a decade high and have risen sharply since the beginning of the pandemic, driven by snarled supply chains, harvest setbacks, soaring farm costs, and high demand.

Last month, increases in grains, dairy, and sugar were the primary driver in FAO’s food price index. Laggards were meat and vegetable oil.

www.zerohedge.com/commodities/global-food-prices-rise-again-hitting-new-decade-high

Trending:
See also  Rishi Sunak - ‘We want to rewire the entire global financial system for net zero'

Views: 9

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.