Food prices dip overall but spike in Rice after India ban another warning sign

  • Food prices down 2% in August, oil prices up 5%: versus March 2022 Russia-Ukraine War peak food down 24%, oil down 30%

  • Warning signs of a spike: Black Sea Grain deal ended, India rice export ban, US soft landing, Saudi-Russia oil cut

  • Food and fuel exposure of household spend and imports most acute in Bangladesh, Jordan, Lebanon, Pakistan, Philippines
September 8th, 2023
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