Global Food Inflation 2024. Since peaking in april 2022, global food prices have declined by 21 percent as of august 2023 (figure 1), easing pressures on most international food markets. Looking to 2028, the global severely food insecure population is projected to hit 956 million, narrowly avoiding a billion in a downside economic scenario if central banks fail to control inflation and respond with further.
The table has current values for food inflation, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data charts. Adjusted for inflation, the food price declined by 25.