Strategy Note /
Global

Food prices up to new peak but at least decelerating

  • Food prices up 1% mom in November (versus 3% in October), up 27% yoy, up 47% from May 2020 trough, at a new 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 up to new peak but at least decelerating
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
2 December 2021
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