Global food prices jumped toward a record last month, further adding to the surging cost of living for consumers. The United Nations’ index of prices rose 1.1% in January, pushed up by more expensive vegetable oils and dairy.
The gauge is edging closer to 2011’s all-time high, and unfavorable weather for crops and the fallout from an energy crisis threaten to keep prices high going forward. Inflation has been running rampant across the globe, and the latest leg higher in the UN’s food index could further stretch household budgets.
The commodities tracked by the gauge are used in most grocery store […]
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