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Food Prices Are New Inflation Threat for Governments and Central Banks
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Energy prices are falling back more than a year on from Russia’s invasion of Ukraine. But the other big cost of the war for households around the world continues to rise: food.
In 12 months through March, prices of food, alcohol and tobacco were up 15.4% in the eurozone, while energy prices were down 0.9%. Food prices were up 10.2% in the U.S. in the 12 months through February, well ahead of energy at 5.2%.
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