Food prices have been rising for a long time, what it could mean for our future?

food prices, week 17

Food prices have been rising for a long time and it seems that this growth is not over yet. Let’s take a look at how the food market will develop and what the consequences could be for our future.

Why it matters

Food prices have been rising for many years. However, the sudden sharp rise is caused by a pandemic, and if this rise in prices continues, humanity may face a very difficult future. According to the Food Price Index from the Food Organization, prices rose by 2.4% in February. This is the ninth month of growth and the index will reach its highest levels since 2014 soon.

What you can hear

The consequences will last longer and they will go beyond the pandemic. The lockdown caused by a pandemic is devastating for keeping food prices at current levels. Last year, Brazil recorded the fastest rise in food prices in relation to inflation. Some countries have managed to keep prices affordable, but at the cost of higher subsidies, the planned end of which has resulted in protests.

What it could mean

Rising prices are costing the most the poorest people, who are spending more than a third of their income on food. In 2020, food prices in America rose by 3%. However, the real problem may arise in countries where a large proportion of people are on the brink of poverty. Food prices have risen around the world, and governments fear that a rapid rise in prices will result in protests and riots.

What you can do

In this situation, it is noticeable that the food system is fragile and dependent on food from the largest suppliers. The time we are currently in is very difficult and we need to protect our property and our money as much as possible. One form of protection is investment. But remember the golden rule of investing: invest only as much as you can afford to lose.

Source: axios.com

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