However, the drop registered in the basket of basic food products is still 13.1% higher than in July 2021.
According to the chief economist of the FAO, maximum bullfighterthe fall in prices is positive although he warned: “Many uncertainties still remain, including high fertilizer prices, which may affect future production prospects and farmers’ livelihoods.”
The entity highlighted with this data that the global food production system worked correctly, despite the ups and downs of the war between Russia and Ukraine, and the rise of the reference markets such as Chicago during last March.
In addition, he indicated that Russian farms have achieved a high level of productivity in recent months, which ends speculation about food shortages as a result of the invasion.
In statements collected by The Economist, Charles Robertson of the investment bank Renaissance Capital, pointed out that “grain traders were overexcited, wrongly lumping together the long-term disruption of oil and gas supplies and the less plausible prolonged disruption of food supplies.”
“Global wheat stocks were extremely high, which told us either the relationship between stocks and prices had broken or…speculation had gotten ahead of itself,” he explained.
What inflation is the country expecting for the next 12 months?
The expected inflation for the next 12 months in August was just over 60%%, according to the Center for Research in Finance (CIF) of the Torcuato Di Tella University Business School.
The projection that emerges from the survey of the house of studies is more than 25 points away from what analysts consulted by the Survey of Market Expectations (REM) that the Central Bank carries out every month and that in July exceeded 83, 7%.
Source: Ambito
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