BURGERNOMICS - Inflation Explained by Global Big Mac Prices
SOURCE: Statista
Russia's war on Ukraine has caused disruptions in supply chains, rerouting food exports at a high cost, leading to concerns about food security and global pressure. The conflict has negatively impacted the export commodities of both countries, causing an increase in food and energy prices, which weakens purchasing power and requires government intervention such as export restrictions. March 2023 saw the highest global food prices since 1990, with the FAO Economist warning that prices are expected to remain high for several seasons. The impact of the conflict on the agricultural sector is likely to have long-term consequences for both countries.
SOURCE: ESS Feed
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