UN blames Iran war for highest food prices in years
Business
Food prices just hit their highest point in more than three years, says the United Nations, mostly because the ongoing war in Iran is messing with global supply routes.
The United Nations's food price index jumped 1.6% in April, with big spikes in vegetable oils, meat, and cereals.
Hormuz closure raises farming costs
The closure of the Strait of Hormuz, a key trade route, has made diesel and fertilizer harder to get, making farming more expensive everywhere.
Vegetable oil prices shot up 5.9%, reaching their highest level since July 2022.
Meat and cereal prices also climbed, while sugar actually dropped a bit last month, but overall, food inflation isn't slowing down anytime soon.