Global food prices actually falling

Russian wheat harvests are booming. (Image: Getty)

Thu, 25 Aug 2022

Six months after Russian tanks rolled into Ukraine, an inflationary shock is still ripping through boardrooms, finance ministries and households, with European natural-gas prices surging again on Aug 22 owing to fears of further disruptions to supply from Russia.But in one crucial area, prices have come back to Earth. The cost of grains, cereals and oils, staples of diets around the world, have returned to levels last seen before the war began.Russia and Ukraine are agricultural powerhouses – until recently, the world’s largest...

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