How food inflation in India has been de-globalised, what factors can drive prices now
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World food prices have crashed from the peaks scaled in 2022, especially post Russia’s invasion of Ukraine.
The UN Food and Agriculture Organization’s (FAO) widely-tracked food price index averaged 143.7 points in 2022 and 125.7 points in 2021, while 98.1 and 95.1 in the preceding two calendar years. But the index – a trade-weighted average of world prices of a basket of food commodities over a base period value, taken at 100 for 2014-16 – fell 13.7% to 124 points in 2023……
For More Details Visit: https://indianexpress.com/article/explained/explained-economics/food-inflation-india-factors-reasons-9121289/
