Highlights

• The agricultural, cereal, and export price indexes decreased over the last 2 weeks, by 11 percent, 15 percent, and 5 percent, respectively. The drop in the cereal price index was driven by maize and wheat, which decreased by 21 percent and 12 percent, respectively, in the last 2 weeks. Wheat prices are 6 percent higher than their January 2022 average, and 24 percent higher than the January 2021 average.

• Domestic food price inflation remains high around the world. Between February 2022 and June 2022, high inflation is observed in almost all low- and middle-income countries.

• Projections for 2030 suggest that 670 million people—8 percent of the global population—will face hunger, showing no improvement from hunger rates in 2015.

• The global food crisis has been partially made worse by the growing number of food trade restrictions put in place by countries with a goal of increasing domestic supply and reducing prices.