Strategy Note /
Global

Food prices decelerate again but still near 10-year peak

  • Food prices down 1% mom in December (vs up 1% in Nov), up 23% yoy, up 47% from May 2020 trough, just off 10-year peak

  • High household spend on and high imports of food in Bangladesh, Egypt, Jordan, Lebanon, Nigeria, Pakistan, Philippines

  • Implies ongoing pressure on inflation, fiscal spend (where governments subsidise), trade balance and social stability

Food prices decelerate again but still near 10-year peak
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
7 January 2022
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