‘The Sky’s the Limit’: Food Inflation to Worsen on Ukraine

Food inflation is already plaguing global consumers, but now the price gains could get even sharper as Russia’s attack on Ukraine threatens key shipments of some of the world’s staple crops.

Ukraine and Russia together account for more than a quarter of the global trade in wheat, as well as a fifth of corn sales. Port and railway closures in Ukraine, nicknamed the breadbasket of Europe, have already started to throw the nation’s commodity exports into chaos.