Rising Consumer Food Prices Revisited

An article in the IMF Blog written in June 2021 about four facts related to soaring consumer food prices worth reading. 

Excerpt:

"...Emerging markets and low-income countries are also more vulnerable to food price shocks because consumers in these countries typically spend a relatively large proportion of their income on food. Finally, for emerging markets and developing economies an additional risk factor is the currency depreciation against the US dollar—possibly due to falling export and tourism revenues and net capital outflows. Since most food commodities are traded in US dollars, countries with weaker currencies have seen their food import bill increase."

Source: IMF