, Columnist
How Not to Tame Global Food Inflation
Prices are at their highest in six years, threatening to slow post-Covid recoveries. A rush to build barriers is not the answer.
Hoarding is not the answer
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Agflation is back, and so are unhelpful fixes.
Under pressure from falling incomes and higher inflation, Moscow has rushed to cap the cost of basic foods and introduced measures to curb wheat and other exports. President Vladimir Putin’s televised displeasure was a symptom of the strain governments are feeling everywhere. Fortunately, the problem is not yet at levels seen just over a decade ago. Unfortunately, Russian-style restrictions are the only solution guaranteed to make a food crisis worse.