09 Apr 2024 --- Food inflation in the world’s wealthiest nations has fallen to levels from before Russia’s full-scale invasion of Ukraine and declined for 15 consecutive months, reaching 5.3% in February versus 6.3% in January, according to the latest report from the Organisation for Economic Co-operation and Development (OECD). In 2022, food inflation surged amid lower trade, higher energy costs, unexpected droughts and COVID-19 supply chain issues. The World Food Programme estimated that higher food prices contributed to a record 333 million people suffering acute food insecurity last year.
