News about food prices

Global food inflation is expected to accelerate in the coming months and persist into 2027, as war-related shipping disruptions and El Nino-driven drought squeeze cereal supplies. The FAO Food Price Index averaged 136 points in September, its highest since November 2022, and the World Bank found food prices rose faster than headline inflation in 22% of 150 countries in the September quarter, up from 14% previously. Wheat prices are up more than 30% in 2026, rice prices in key Asian exporters have risen 10% to 13%, and Indonesia's rice prices have hit record highs. The poorest consumers in low- and middle-income countries are hit hardest, raising the risk of social unrest and export bans, and freight rates on some key routes have risen about 50%.

Thousands of people across Europe protested over the weekend against rising living costs, unaffordable housing, low wages and strained public services. In France, hundreds of thousands joined demonstrations, but some turned into looting and rioting that damaged about 1,500 shops, with the Retail and Trade Federation estimating costs of “several hundreds of millions of euros” and President Emmanuel Macron vowing to hold those responsible to account. Police clashed with demonstrators in Belgium, while Italy saw clashes in Milan, Turin and Bologna, and Portugal’s unions called for higher wages, better pensions and affordable housing. Eurostat data analysed by Euronews Business shows EU food prices rose 34% between August 2021 and August 2026, and the food a minimum wage could buy fell 6% in Malta, 5% in Spain and 4% in France. The comparison excludes taxes, rent and other household costs.

Global food inflation is expected to accelerate in the coming months and persist into 2027, as war-related shipping disruptions and El Nino drought squeeze cereal supplies. Rice prices in Indonesia have hit record highs, bread in Egypt has risen by a quarter, and sugar in India reached an all-time high. The World Bank found food prices in the September quarter outpaced headline inflation in 22% of the 150 countries it analysed, up from 14% previously. The FAO Food Price Index averaged 136 points in September, its highest reading since November 2022. Rising prices heighten the risk of social unrest and could prompt key exporters to impose export bans.

Global food inflation is expected to accelerate in the coming months and persist into 2027, as war-related shipping disruptions and El Niño-driven drought squeeze cereal supplies. In Jakarta, a parking attendant has cut meals after rice, tempeh and tofu costs rose from 7,000–8,000 rupiah to 15,000 rupiah, while Indonesian rice prices hit record highs. The FAO expects a bigger impact toward year-end and into next year, and the World Bank found food prices outpaced headline inflation in 22% of 150 countries analysed, up from 14% in the previous quarter. The FAO Food Price Index averaged 136 points in September, its highest since November 2022. Wheat prices are up more than 30% in 2026, raising the risk of social unrest and export bans.

FAO chief economist Máximo Torero warned food inflation could intensify late this year and persist into 2027 due to shipping disruptions, expensive farm inputs and El Niño. The FAO Food Price Index averaged 136 points in September, up 1.5% from August and 5.8% from a year earlier, though still 15.1% below its March 2022 peak. In the U.S., grocery prices fell 0.1% in September while overall consumer prices rose 0.6% and reached an annual rate of 3.7%. FAO forecast a 2026 cereal harvest of 2.979 billion metric tons, 2.1% below the previous year's record. The U.S. Climate Prediction Center put the probability of a strong-to-very-strong El Niño lasting through January–March 2027 at greater than 83%.

FAO chief economist Maximo Torero warned that global food inflation is poised to accelerate in the coming months and persist into 2027, as war-related shipping disruptions and El Niño-driven drought squeeze cereal supplies. Rice prices in Indonesia hit record highs, bread in Egypt rose by a quarter, and sugar in India reached a record after the weakest monsoon in more than a decade. The World Bank found that food prices in the September quarter outpaced headline inflation in 22% of the 150 countries it analysed, up from 14% in the previous quarter. The FAO Food Price Index averaged 136 points in September, its highest since November 2022, and the world's poorest consumers are being hit hardest.

Global food inflation is expected to accelerate in coming months and persist into 2027, as war-related shipping disruptions and El Nino-driven drought squeeze cereal supplies. In Jakarta, parking attendant Muhamad Yasin, 63, says rice, tempeh and tofu now cost 15,000 rupiah, up from 7,000 to 8,000, forcing him to cut back on meals. The World Bank found food prices outpaced headline inflation in 22 percent of the 150 countries it analysed in the September quarter, up from 14 percent. The FAO Food Price Index averaged 136 points in September, its highest since November 2022. Attacks on Black Sea grain infrastructure, Red Sea insecurity and the US-Israeli war on Iran have disrupted shipments and raised fuel and fertiliser costs, pushing wheat prices up more than 30 percent in 2026.

Global food inflation is likely to accelerate in the coming months and could last well into 2027, driven by two supply shocks. War-related shipping disruptions are slowing deliveries, while El Niño drought is hurting harvests and squeezing cereal supplies. Vulnerable consumers face even more pressure because food takes up a large share of their income. Early signs are already visible: Indonesia's rice price is at a record high due to late rains, Egypt's bread price has risen 25%, and India's sugar price is the highest ever after its weakest monsoon in more than ten years cut output. The article argues these cases share one problem: staple-food systems are highly sensitive to climate shocks and supply-chain stress.

According to Business Insider, white bread averaged 36 cents per pound in 1975, and a 20-ounce Wonder loaf cost 45 cents, while Walmart sells the same loaf for around $2.47 today. Adjusted for inflation, the 1975 price equals $2.26 per pound in today's dollars, so the 20-ounce Wonder loaf would cost $2.83 at 1975 prices, yet the average bread price in 2026 is only $1.85 per pound. The article notes that inflation changed eating habits: Hamburger Helper helped stretch expensive ground beef in the 1970s, and today many shoppers buy less beef and consider cheaper proteins or plant-based alternatives. In 2023, an Italian consumer group called for a week-long pasta boycott over prices rising more than double the inflation rate, but the government acted to bring prices down and the boycott was called off before it began.

Labour leaders and pro-democracy activists, including the NLC and lawyer Femi Falana, urged Nigerians to unite against rising petrol prices, accusing the government of impoverishing workers while enriching a privileged few. The NLC said a bag of rice has risen from about ₦30,000 to over ₦80,000 and a loaf of bread from about ₦500 to ₦1,500, while the ₦70,000 minimum wage set in July 2024 is now a “cruel joke”. When that wage was set, petrol sold for about ₦668.30 per litre, but it now exceeds ₦1,400 per litre in many areas. The NLC issued a two-week ultimatum on October 9 demanding an immediate cut in petrol prices, and also called for steps to stabilise the naira, reduce inflation and strengthen domestic refining.