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Fri Jun 4, 2021, 04:54 PM

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

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).

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

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