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Prices are falling, but not for food. Groceries remain a "pain point."
CBSNov 25, 2022
The Facts
The UN's Food and Agriculture Organization's (FAO) world price index rose in April for the first time in a year but is still some 20% lower than its March 2022 record high. The high occurred when Russia invaded Ukraine.
In April 2023, the FAO Food Price Index, which tracks monthly changes in international prices of commonly-traded food commodities, averaged 127.2 points. That was 0.6% higher than March's index level and 19.7% below the index's April 2022 figures, yet still 5.2% above its April 2021 level.
The Spin
Pro-establishment narrative
Russia's invasion has devastated the people of Ukraine and its repercussions have been felt globally. Military conflict in one of the world's major grain exporters has exacerbated a global food crisis, causing prices to rise. Extreme weather and drought have further impacted food production negatively in 2022, adding to inflation as well as food insecurity. These are issues that the global community must address urgently.
Establishment-critical narrative
After provoking the war in Ukraine, the West has gone back on its promise to help the countries affected most by import sanctions on Russia. The EU has confiscated grain exports from the Black Sea Initiative that were meant to go to Africa. This goes directly against its promise to curb the food crisis. Western countries have inflicted suffering on nations they have political disagreements with — i.e. Russia — while leaving the poorest countries with nothing.
