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Global food prices surge again, stoking inflation fears | Business and Economy News

Concerns are growing over surging food prices, which climbed for the 12th month straight in May, according to a United Nations gauge.

Global food prices extended their rally to the highest in almost a decade, heightening concerns over bulging grocery bills as economies struggle to exit the Covid-19 crisis.

A United Nations gauge of world food costs climbed for a 12th straight month in May, its longest stretch in a decade. The continued advance risks accelerating broader inflation, complicating central banks efforts to provide more stimulus.

Drought in key Brazilian growing regions is crippling crops from corn to coffee, and

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