Food commodity prices could push grocery bills higher by next summer

Food commodity prices for staples such as wheat, corn and rice could rise 10% to 18% by next summer, according to a new Eurasia Group analysis cited by Marketplace.

The warning points to ongoing wars involving Iran, Russia and Ukraine, along with a forecast “super El Niño” this year, as pressures on global food supply chains. Strong grain harvests last year helped cushion earlier fears of sharper price increases, but those buffers are shrinking.

Higher commodity prices would likely reach grocery stores over time. Farmers, who have faced low commodity prices in recent years, could benefit from the increase, while consumers would face added pressure on food bills.

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