Bloomberg
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Food prices climb closer to record, boosting inflation angst

Food prices climbed closer to a record high, giving consumers and governments around the world an even bigger inflation headache.

Traders set out produce on their stalls ahead of opening at the Aligre market in Paris on Oct. 22, 2021. Foto: Bloomberg photo by Nathan Laine.

A United Nations gauge of global food prices rose 1.2% last month, threatening to make it more expensive for households to put a meal on the table. It's more evidence of inflation soaring in the world's largest economies and may make it even harder for the poorest nations to import food, worsening a hunger crisis.

Prices have jumped for multiple reasons: bad weather hurt harvests, higher shipping rates, worker shortages and an energy crunch hit supply chains, and fertilizer costs have surged too. While it typically takes a while for commodity costs to trickle down to supermarkets, the rally is evoking memories of spikes in 2008 and 2011 that contributed to global food crises...

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