High food prices to pressure inflation this year (Wall Street Journal)

Wall Street Journal published an article on rising food prices showing that they are emerging as a significant headwind to the economic recovery from the pandemic this year, particularly in developing countries where food accounts for an important share of household consumption. Russia’s invasion of Ukraine could make those headwinds even stronger. Escalating food costs could add pressure to raise them even more, further curbing growth.  Rob Vos division director, said that will mean people in developing countries will see their inflation-adjusted incomes decline, which will lower food consumption. “And as a result, you’ll see a slowdown in their economies.”