Rolling coverage of the latest economic and financial news
The jump in wheat prices comes as food inflation is already forecast to climb over the coming months.
Capital Economics predict UK food inflation could almost double by mid-2027, telling clients:
Outside of fuel and utilities, the prices of flights, other forms of transport, flowers and food are likely to rise the most in response to the Iran war. In our baseline scenario, food price inflation rises from 3.3% in February to 6.0% in the middle of next year.
“An untended humanitarian crisis is an incubator of political instability. We are in a more connected world than ever before.
“The Iran war shows how connected we are, but the connections go the other way [from poor to rich countries], too.”
Continue reading…Rolling coverage of the latest economic and financial newsCuts to overseas aid will worsen shocks to global economy, David Miliband saysThe jump in wheat prices comes as food inflation is already forecast to climb over the coming months.Capital Economics predict UK food inflation could almost double by mid-2027, telling clients:Outside of fuel and utilities, the prices of flights, other forms of transport, flowers and food are likely to rise the most in response to the Iran war. In our baseline scenario, food price inflation rises from 3.3% in February to 6.0% in the middle of next year.“An untended humanitarian crisis is an incubator of political instability. We are in a more connected world than ever before.“The Iran war shows how connected we are, but the connections go the other way [from poor to rich countries], too.” Continue reading…
