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Weekly Commentary

Mixed Government Responses to High Food Prices So Far

March 25, 2022
Jimmy Jean • Benoit P. Durocher • Francis Généreux • Lorenzo Tessier-Moreau • Hendrix Vachon

Soaring food inflation is among the most significant global consequences of the war in Ukraine. This week, Chicago futures for wheat prices jumped to reach their highest level since 2008. Since the beginning of March, the price of bread has soared by 70% in Lebanon, which imports over 70% of its wheat from Ukraine. Egypt capped the price of wheat this week, with 2008’s deadly food riots still fresh in politicians’ memories.

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