Highlights

• The agricultural and cereal price indices remained stable over the past two weeks and are currently 1 point higher.

• Domestic food price inflation remains high around the world, with high inflation continuing in almost all low-and middle-income countries, and high-income countries.

• High energy and fertilizer costs, poor weather in key producing countries, and the Ukraine-Russia war risks have led to high domestic food price inflation. Geopolitical risk highlighted as a major driver of price volatility.

• According to a World Bank report, the COVID-19 pandemic caused a major setback in global poverty reduction. Now, rising food and energy prices fueled by climate shocks and conflict have halted the recovery.

• According to an IMF paper, $5 billion to $7 billion in further spending is needed to assist vulnerable households in 48 countries most affected by the higher food and fertilizer import prices. An additional $50 billion is required to end acute food insecurity over the next 12 months.

• Our blog highlights the strong nexus between gender and food security, demonstrating the importance of integrating women into policy responses.