Why Are FOOD PRICES Rising Globally?

Why Are FOOD PRICES Rising Globally?

The world holds its breath in the face of one of the hardest and highest food price increases in the past half-decade.

Inflation harmed both large and small food and franchise businesses.

The question that everyone asks now is, “Will the food crises escalate?”

and “How will the world manage its food security in the future?”

The world’s three main economic powerhouses—the U.S., China, and the Eurozone

all suffer from a sharp increase in their grocery and food prices.

Their CPI reports show that some product prices have increased by more than 90% in the past 12 months.

In this video, we will review the reasons why we have reached this point and what is expected to happen in the coming months.

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The current food price increase comes from three main events:

the pandemic disruption, the war in Ukraine, and the Russian sanctions.

When did the food crisis begin?

It all started in 2019 when the Chinese government declared the spread of an unknown disease

that later became known to everyone through the COVID-19 pandemic.

The pandemic’s spread was initially large and lethal in most countries.

The world governments found it easy to control its spread by forcing lockdowns.

Yet, the COVID lockdown precaution came at a cost,

and the global supply chain suffered a sharp decline due to the increases in the unemployment rate and a decline in money supplies.

In 2021, several reports and studies found that food security around the world declined while its prices increased at the same time.

That takes us to inflation and how it rose so fast.

In late February 2022, Russia launched its military operation in Ukraine.

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