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GLOBAL MACRO: Food Inflation Rising Due To Wide-Ranging Supply Issues

GLOBAL MACRO

FAO global food prices rose 2% m/m in October to be up 5.5% y/y, the highest in over two years. This was the third straight monthly increase and the seventh in the last eight months. They had been disinflationary on a monthly basis for most of the last two years but that now appears to have turned. 

Global inflation vs FAO food prices y/y%

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FAO global food prices rose 2% m/m in October to be up 5.5% y/y, the highest in over two years. This was the third straight monthly increase and the seventh in the last eight months. They had been disinflationary on a monthly basis for most of the last two years but that now appears to have turned. 

Global inflation vs FAO food prices y/y%

Keep reading...Show less