Food prices spiked in March as Middle East conflict drove up energy costs

(The Guardian) - Food prices rose sharply in March as war in the Middle East drove up energy prices and freight costs around the world, a UN report says.

An index of food commodity prices by the UN’s food and agriculture organisation increased by 2.4% in March, its second consecutive monthly rise.

The index – which tracks grain, sugar, meat, dairy and vegetable oil costs – had risen for the first time in five months in February.

The biggest increases were in vegetable oil and sugar prices, which increased by 5% and 7% respectively in March.

There are fears that the war in the Middle East could trigger elevated food inflation, as higher fuel, fertiliser and electricity prices push up the cost of moving, processing and cooking food.