The Global Food Price Index Continues Rising in 2021: Food expenditures as a portion of disposable income have trended downwards in the U.S. for more than 50 years, but the trend could be reversing as food prices have risen sharply over the past months. Since June 2020, the UN’s Food and Agriculture Organization’s (FAO) food price index has risen for nine consecutive months, with almost every food group setting new three-year highs in 2021. If the trend continues, food prices could begin to outpace income growth and monetary support from governments. The one outlier in changing food prices has been meat prices, … (full story)
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