The 35-Year Journey of Food Prices
For the past 35 years, global food prices have risen steadily, reflecting mounting pressures on worldwide food systems. That translates into more costly groceries.
Crisis Points where the World Shook Food Markets
Food prices do not slowly increase, they peak sharply in times of crises. This shows key events like the 2008 financial crisis, COVID-19, and the war in Ukraine causing sudden price peaks. When crises do hit, food is too expensive for millions, revealing how fragile our global food system really is.
Each Food category Tells a Different Story
Some foods are predictable and others are chaos. Sugar and oils suffer from rampant price fluctuation, as opposed to dairy or meat. They are products of global shocks. To the average consumer, that translates to uncertainty, budgeting is guesswork when staple foods become luxuries overnight.
Food Price Correlations
Food prices don’t go up and down individually, they move in groups. This chart shows strong links between food groups, specifically cereals and dairy. Shared supply chains and farm inputs tie them closely together. A shock to one food group radiates quickly, impacting your whole supermarket bill not just one product.
Most Unpredictable Foods
Oils are the wild cards in the kitchen.With the biggest price fluctuations nearly 42% volatility, oils are twice more volatile than meat. One month, it is cheap the next it is not. Budgeting for essentials such as oil or sugar is a game of chance.
Post-Pandemic Food Inflation
Food prices once fluctuated and crashed now they just stay high. After 2022, prices did not decline back to what they were. Instead, they leveled off 25% higher, setting a new, higher-cost normal. What used to be a crisis is now everyday life with expesive food costs.