Impact of dry bulk freight rates and global grain prices on consumer food prices 2023
Higher dry bulk freight rates and grain prices are projected to contribute to an increase in consumer food prices. This increase will differ based on the economy of the affected country. While it is expected that this increase in consumer food prices will amount to 1.2 percent on the global scale, lower middle income countries will suffer the highest hike of all economies—about 1.4 percent. This is partly due to their