Analyzing Food Price Inflation and Food Security

Food prices across the globe have undoubtedly trended up over the last few years, and with them rising at a faster rate than overall inflation, farmers, analysts, retailers, risk managers, and policymakers alike have to pay particular attention to the issue. In the wake of the recent food price inflation and the rise of food price volatility, those who can spend a decent amount of their incomes on food have had their purchasing power reduced drastically. Conversely, people experiencing poverty and those on small incomes have had their food security curtailed. The chain of disruptions caused by the ongoing war in the Black Sea Region, the Covid-19 pandemic, and adverse climatic events have led to supply chain disruptions, food shortages, and consequently, increases in food prices and food insecurity. Given these events, it's become necessary to explore food inflation and the insecurity that comes with it.