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Food Costs Ease From Near Record, Offering Inflation Respite

  • Surge in prices since 2020 has trickled down to supermarkets
  • Rising inflation is already contributing to political unrest
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Beef, Bacon, Car Prices Surging Due to Inflation
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Global food prices declined from near a record high at the end of last year, offering some respite to consumers and governments facing a wave of inflationary pressures.

A United Nations index tracking everything from grains to meat fell 0.9% in December, potentially helping to ease the run-up in prices of grocery store products. Still, the gauge remains near 2011’s all-time high and average prices jumped about 28% in 2021, the most in 14 years.