Food prices cool, down 2.3% mom in June, still up 70% from trough
Food prices down 2.3% mom in June (3rd consecutive small monthly decline). Still up 23% yoy and 70% from May 2020 trough
High household spend on (and high imports of) food in Bangladesh, Egypt, Jordan, Lebanon, Nigeria, Pakistan, Philippines
Small relief but pressure persists on inflation, fiscal spend (in cases of subsidy), trade balance and social stability

Strategy & Head of Equity ResearchĀ @ Tellimer Research
