Food inflation is the persistent rise in grocery and food item prices, directly impacting household budgets and consumer purchasing power. Key drivers include...
Food inflation refers to the sustained increase in the average price of food items over a specific period, typically measured annually.
Key drivers include global supply chain disruptions, rising energy costs, adverse weather impacting harvests, geopolitical conflicts, and increased consumer demand.
It reduces household purchasing power, making groceries more expensive and potentially forcing consumers to adjust spending habits or dietary choices.
Yes, it's often influenced by international commodity prices, global trade policies, and worldwide weather patterns, impacting numerous countries simultaneously.