The Graphic Truth: Are we headed for a food price crisis?
Global food prices have jumped by one-third since a year ago, as a result of pandemic- and climate-related supply chain disruptions as well as export restrictions. While the situation isn't (yet) as bad as in 2007-2008, when sharp increases in food prices triggered civil unrest across many parts of the world, the trend isn't a good one. Food price inflation and, in more extreme cases, the risk of famine will only exacerbate the challenges of economic collapse and mass unemployment left behind by COVID. We take a look at how the global prices of five key food products have changed since the pandemic began.
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