Food prices spiked in March as Middle East conflict drove up energy costs, UN says

"The index of food commodity prices increased by 2.4% in March, its second consecutive monthly rise, driven by the ongoing conflict in the Middle East affecting energy prices."

"Vegetable oil and sugar prices saw the largest increases, rising by 5% and 7% respectively, reflecting the impact of higher energy costs linked to the conflict."

"UN projections indicate that global food prices could average 15% to 20% higher in the first half of 2026 if the crisis persists, driven by rising costs in fuel and fertiliser."

"The Food and Drink Federation in the UK predicts food prices will rise by at least 9% by the end of 2026, nearly tripling earlier forecasts made before the conflict."

In March, food prices increased by 2.4%, marking the second consecutive monthly rise, driven by the war in the Middle East affecting energy and freight costs. The UN report noted significant price hikes in vegetable oil and sugar, with increases of 5% and 7%, respectively. Concerns about elevated food inflation persist as higher fuel and fertiliser prices impact food processing and transportation. Projections suggest global prices could rise by 15% to 20% in the first half of 2026 if the conflict continues, with the UK predicting a 9% increase by the end of 2026.

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