Hormuz closure causing double-digit surge in food inflation
A double-digit surge in grocery inflation is being driven by the Iran war, with rising energy costs and a “broken” global system, food security experts have warned. Food prices could rise by more than 10 per cent once disruption linked to the Strait of Hormuz “works its way through” supply chains, w
AI Translated Summary:
The ongoing conflict in Iran is significantly impacting food prices, leading to a projected increase of over 10% due to disruptions in the Strait of Hormuz. Experts warn that rising energy costs and a fractured global supply chain are exacerbating food inflation.
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