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Echoes of inflation: unpacking the drivers of food prices in Central America
In 2022, Central America experienced significant surge in food prices, a trend that was evident in Honduras. The country saw year-on-year monthly food inflation exceeding 12% from May 2022 to May 2023, with rates surpassing 17% in eight of those months.
In the following lines, we address the underlying causes of the food and fertilizer price surges, and the actions that can be taken to mitigate this situation in Central America.
After a year, India’s rice export restrictions continue to fuel high prices
In July 2023, the Indian government announced export restrictions on non-basmati white rice. Coming after earlier export limits on other types of rice, the action was taken in part due to a strengthening El Niño that threatened to limit rice production and fuel rising food inflation—a potential political liability for the Modi government as it faced upcoming general elections in spring 2024.
Trade policy and food price volatility: Beggar thy neighbor or beggar thyself?
Recent shocks from the COVID-19 pandemic to the ongoing Russia-Ukraine war have disrupted global food and fertilizer supply chains—causing price spikes and increased price volatility—a disastrous combination for many vulnerable consumers around the world.
Concerns over wheat supplies and prices, plus the impact of biofuels on vegetable oil markets: Latest FAO Food Price Index and AMIS Market Monitor released
The FAO Food Price Index rose by nearly 1 percent in May due to increased cereal and dairy prices. It remained 3.4 percent below its May 2023 levels and nearly 25 percent below the peak seen in March 2022.
FEWS Net Gaza Update: Food Aid Increases in April But Food Supplies, Access Remain Low
Despite an increase in food aid delivered to the region, the food security situation in the Gaza Strip remains dire, according to an updated FEWS Net report released in late April.