Food Security

Why are food prices rising? Here are 4 key insights

a woman does grocery shopping during the pandemic

Although COVID-19 has affected food prices, the increase in consumer food price inflation predates the pandemic. Image: Unsplash/Imants Kaziļuns

Christian Bogmans
Economist, IMF
Andrea Pescatori
Economist, IMF
Ervin Prifti
Senior Economist, IMF
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a graph showing how food prices had been on the rise in the years before the pandemic before moderating
The state of food prices before and during the pandemic. Image: IMF

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a graph showing that global consumer food prices and producer prices fluctuate
Global consumer food prices and producer prices vary consierably. Image: IMF

a graph showing that ocean freight rates have been steadily rising for more than a year
The steady rise of ocean freight rates. Image: IMF

a graph showing that international food prices for producers are rising due to factors relating to the pandemic and weather events
International food prices are rising. Image: IMF

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Related topics:
Food SecurityAgriculture, Food and BeverageCOVID-19
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This lab-grown meat is cultivated from animal stem cells

Jack Hurd

November 24, 2023

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