There's No Crisis Like A Food Crisis

Food price inflation and the concurrent food shortages are a global crisis that is steadily getting worse. If anything qualifies as a global emergency, lack of food is surely it.

Zoom out and it's clear: A food crisis is unfolding around the world, with prices shooting up everywhere. And when that happens, everyone feels the pain. People can cut back on movies or even driving when the cost of tickets or gas surges, but everyone needs to eat.

How serious is the food crisis? Pretty serious, given that the last major episode food price inflation is widely considered to have played a significant role in the 2011 “Arab Spring" uprisings that swept across the Middle East. Readers will also recall that food riots have already been seen in Sri Lanka and Panama, as well as Peru.

All Facts Matter
Food Price Inflation Today, Food Insecurity Tomorrow, Hunger The Day After?
For most of 2021, food price inflation in the US, as measured by the Food subcomponent of the Consumer Price Index, increased more slowly than overall consumer price inflation. That minor blessing ended this past February. Ever since, food price inflation has been rising faster than overall inflation as measured by the Consumer Price Index…
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Food insecurity makes everything and everyone less secure, as food riots become more and more commonplace.

The crisis is steadily getting worse for everyone, and no country is immune.