Rising food prices are a concern across the world. The price of wheat and flour, for example, has risen globally since the onset of the conflict in Ukraine, and bird flu outbreaks have impacted the price of eggs and chicken. Famine and water shortages in several regions have also increased food prices. Other factors include high energy prices, high fertilizer and feed prices, labour shortages and crop failures. The FAO Food Price Index, a measure of the monthly change in international prices of a basket of food commodities, shows that in April 2024 food prices rose marginally, following a steadily declining trend. Meanwhile, in the UK, statistics show that food inflation decreased to 2.9% in April from 4.0% the previous month, having previously reached 19% – the highest level since the 1970s – in March 2023.
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