The average price index of the UN food agency reached its highest level ever last year, according to Reuters, as the disruption brought on by Russia’s invasion of Ukraine sparked worries about shortages.
The Food and Agriculture Organization said that the food price index, which measures changes in the prices of the most widely traded food commodities on a global scale, averaged 143.7 points in 2022, a 14.3% increase over 2021 and the highest level since records have been kept in 1990.
As the global economy recovered from the pandemic’s effects in 2021, the index had already increased by 28% from the year before.
Following Russia’s invasion of Ukraine in February of last year, food prices increased because to concerns about interruptions to Black Sea trade.
In December the benchmark index fell for the ninth consecutive month to 132.4 points, compared with a revised 135.00 points for November.