Food price inflation is lessening in the first world

Food inflation across rich nations has dropped to its lowest level since before Russia’s full-scale invasion of Ukraine, with a slowdown in price growth easing pressure on millions of households hit by the two-year surge in food costs.

The annual change in consumer food prices across 38 industrialised countries eased to 5.3 per cent in February, down from 6.2 per cent in the previous month and well below a peak of 16.2 per cent in November 2022, according to the latest OECD data.

1 Like