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A collage depicting food price increases.

Annie Gugliotta/GZERO Media

Are high food prices here to stay?

A perfect storm of pandemic shortages, Russia’s invasion of Ukraine, and extreme weather events have driven up food prices and threatened food security globally. Now, a strong El Niño event stretching into 2024 could exacerbate this food crisis, but not for everyone.

A 2023 report by the UN Food and Agriculture Organization found that as many as 783 million people worldwide faced food insecurity in 2022 – 122 million more than in 2019. The pandemic brought supply chain challenges that have been slow to abate. Extreme weather and global conflict further drove up hunger by limiting access to food. The problem is acute in the developing world, but it’s hitting people hard in North America, too.

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A vendor arranges onions for sale at a market in Lagos, Nigeria.

REUTERS/Temilade Adelaja

Why food prices remain high

Thanks to the war in Ukraine and the pandemic before it, food inflation remains sky-high throughout much of the world. With the Black Sea grain deal set to expire on March 18, we take a look at global food security in 2023 with Eurasia Group expert Peter Ceretti.

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Luisa Vieira

The Graphic Truth: Food inflation still flying high

As the war in Ukraine lingers and pandemic aftershocks continue to pound the global economy, food inflation remains sky-high throughout much of the world. Consider that over the past year alone, egg prices in the US rose by a whopping 60% on average. While prices of some food staples have dropped in recent months, partly due to the Black Sea grain deal, stubborn inflation driving up transport and labor costs means that consumers aren’t feeling prices ease at the supermarket. We take a look at food inflation in select countries now compared to a year ago, exactly one month after Russia invaded Ukraine.

Laborer carries food at the main market in Colombo, Sri Lanka.

Akila Jayawardana via Reuters

Is the global food crisis here to stay?

The mood surrounding the annual UN General Assembly kickoff this week has been grim. Russia is pounding Ukraine and climate-related disasters are devastating places as far-flung as Pakistan, Portugal, and Puerto Rico.

In 2022, with total war returned to Europe and the global pandemic having scrambled supply chains, the food crisis is where the conversation is at.

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We've reached peak global food inflation, says IFPRI expert
We’ve Reached Peak Global Food Inflation, Says IFPRI Expert David Laborde | GZERO Media

We've reached peak global food inflation, says IFPRI expert

Global food prices have been going through the roof over the past few months — but there's some good news on the horizon.

Weather permitting, the prices of key commodities like wheat are now almost back to their levels before Russia invaded Ukraine, David Laborde, a senior fellow at the International Food Policy Research Institute, said during a livestream discussion on the global food crisis hosted by GZERO Media in partnership with the Bill & Melinda Gates Foundation.

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The Graphic Truth: Global food prices on the rise

Pandemic-related supply chain disruptions – exacerbated by the Ukraine war – have sent the global food supply into chaos. Ukraine and Russia are massive food exporters, and the war has left global food supplies scarce and prices sky-high. Some countries have responded to the turmoil by enforcing export bans on some products to keep prices down at home – further disrupting the global food network. We take a look at food inflation in select countries over the past year.

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