In Latin America and the Caribbean, food inflation has accelerated more than headline inflation since 2020. In July 2022, food inflation reached 12.4% versus 8.4% for headline inflation. Between august and october, food inflation declined less than headline inflation.
The 12-month regional food price index reached 11.7% in september 2022, compared to 7.1% for headline inflation. According to FAO, the food price index, measured in real terms, reached an all-time high of 156.3 points in march 2022.
According to the statement issued by ECLAC, FAO and the World Food Program, food inflation increases the risk of problems of access to a healthy diet, food insecurity and hunger as it affects lower-income households the most.
The war in Ukraine has directly affected international trade in crude oil, natural gas, cereals, fertilizers and metals.
Finally, the report emphasizes that the complexity and magnitude of the policies required to reconcile emergency responses with the reduction of structural and fiscal problems demand coordination in various areas, macroeconomic, social and productive, and the articulation of responses at the regional level.
Translated by: A.M