- Early lockdown measures and supply chain disruptions induced a spike in consumer food prices.
- Ocean freight rates as measured by the Baltic Dry Index (a measure of shipping costs) have increased around 2-3 times in the last 12 months.
- From their trough in April 2020, international food (producer) prices have increased by 47.2 percent attaining their highest (real) levels on May 2021 since 2014.
- It is plausible that consumer food price inflation will pick up again in the remainder of 2021 and 2022.
For further details see:
4 Facts About Soaring Consumer Food Prices