Title: Food Prices: 5 Causes of Increases, Trends, Forecast, Effect
Headings: Why Food Prices Are Rising, Recent Trends, and 2021 Forecast
Assets & Markets Commodities
Why Food Prices Are Rising, Recent Trends, and 2021 Forecast
5 Causes of High Food Prices
Five Causes of Higher Food Prices
High Oil Prices
Climate Change
Government Subsidies
World Trade Organization Limits on Stockpiles
Recent Trends
2020: The COVID-19 Pandemic
2018 and 2019: Climate Disasters
2016 and 2017: Dollar Impact on Food Costs
2015: Impact of Avian Influenza
2011-2014: How Calamities Affected World Food Supply
2014
2013
2012
2011
2008: The Great Recession
Looking Ahead: The Ongoing Impact of the Pandemic
Key Takeaways
Article Sources

Content: The Great Recession
Food prices rose 5.5% according to the Consumer Price Index for food. It was the largest single-year increase since 1990. Commodity speculators caused higher food prices in 2008 and 2009. As the global financial crisis pummeled stock market prices, investors fled to the commodities markets. As a result, oil prices rose to a record of $145 a barrel in July, driving gas prices to $4 a gallon. Part of this was caused by surging demand from China and India, which escaped the brunt of the subprime mortgage crisis. This asset bubble spread to wheat, gold, and other related futures markets. Food prices skyrocketed worldwide. As a result, food riots by people facing starvation erupted in less-developed countries. 19 ﻿ 20 ﻿
Looking Ahead: