Food price inflation has been significant in the U.S. in recent years, beginning with supply chain disruptions that saw prices increase by nearly 10% several years ago and by 3.1% over the past year, according to May data from the U.S. Bureau of Labor Statistics.
But while food price inflation has slowed somewhat in the West, prices have continued to spike in many regions worldwide, including parts of the Middle East and South America.
The largest annual increases have been in Iran (55.9%), Argentina (33.4%) and Turkey (25.1%), according to an analysis of data from the UN Food and Agriculture Organization (FAO), along with nation-specific agencies.
Nations with the highest increase suffer from a variety of factors, including currency devaluations, geopolitical friction and wars, and severe weather caused by climate change.
Global food commodity prices have increased by 2.9% over the past year.
Costs for healthy diets are especially high, according to the Food and Agriculture Organization of the United Nations
“Today, healthy diets are simply too expensive for billions of people; with the cost of a nutritious diet exceeding average incomes in many low-income countries,” said Qu Dongyu, the FAO’s director general, speaking at a conference in April. “We cannot solve this by production alone — we need social protection, income support, and policies that lower the price of fruits, vegetables, and proteins.”
read more
Republish our articles for free, online or in print.
