Tariff Concerns Drive Global Food Prices to Two-Year High (1)

Global food prices rose to a two-year high in April, a sign that tariff uncertainty is starting to put a squeeze on trade.

A United Nations index tracking raw commodity costs of food rose to 128.3, a 1% month-on-month jump, taking it levels last seen in March 2023. While it takes time for the impact to filter through to supermarkets and the gauge remains well below a 2022 peak, the move hints at the possibility of pricer groceries after a period when food inflation had eased.

“Currency fluctuations influenced price movements in world markets, while tariff policy adjustments raised market ...