UN: Cost of food rises at fastest pace in over a decade

[Eugene]

Source: BBC

UN: Cost of food rises at fastest pace in over a decade

4 June 2021

Global food prices have jumped at their fastest monthly rate in over a decade, according to the United Nations.

The UN uses a broad index of global food costs, which have also climbed for 12 months in a row.

Suppliers have been affected by disruptions to production, labour and transport during the pandemic.

Concerns are growing about broader inflation and how higher grocery bills will impact the world's economic recovery.

The UN Food and Agriculture Organization's (FAO) food price index tracks prices around the world of a range of food including cereals, oilseeds, dairy products, meat and sugar.

According to the index, food prices in May were 4.8% higher than April - the biggest monthly rise since October 2010 - and 39.7% higher than this time last year (May 2020).

-snip-

Read more: https://www.bbc.com/news/business-57353624

[progree]

1. food prices in May were 4.8% higher than April ... and 39.7% higher than 1 year ago

Ouch, that's really a lot.

For comparison for the U.S. (April 2021 released May 12):
https://www.bls.gov/news.release/cpi.nr0.htm
Monthly percent increases Last 7 months ; and then the 12 month increase:
Food...................... .2 .0 .3 .1 .2 .1 .4   ; 2.4
... ... Food at home............. .1 -.2 .3 -.1 .3 .1 .4   ; 1.2
... ... Food away from home (1).. .3 .1 .4 .3 .1 .1 .3   ; 3.8

(1) Food away from home Not Seasonally adjusted