Fitch: Sharp decline in global food inflation is expected in 2023


August 3, Fineko/ International agency Fitch Ratings has announced a forecast that world food inflation will fall sharply in 2023.

ABC.AZ reports that according to the agency, the sharp drop in grain prices in recent weeks has raised expectations of decrease in food inflation next year.

Grain supplies from Ukraine this week can contribute about 20 million tons to world supplies. Although the slowdown in global industrial production is in line with expectations of lower commodity prices in the coming period, there is a risk of rising food prices.