From beans in Brazil to pork in China

Consumers and businesses around the world face exorbitant prices for everything from beloved tortillas in Mexico to aluminum cans used by beer companies.

Inflation has jumped after countries emerged from Covid lockdowns and has risen since Russia’s invasion of Ukraine, and the International Monetary Fund expects consumer prices to rise by 8.3 percent globally this year.

Here’s a look at how high prices are affecting the world:

– fuel –

The invasion of Ukraine by Russia, the world’s third largest oil producer, sent crude oil prices soaring.

The main international contract, Brent North Sea, was around $140 a barrel, but has now fallen below $100.

Prices at the pump followed suit, jumping to more than 2 euros a liter in the eurozone countries and more than five dollars a gallon in the United States, before plummeting in recent weeks.

Natural gas has also become more expensive, especially in Europe, where electricity prices have reached record levels in Germany and France.

Energy prices rose 38.3 percent in the euro zone in August compared to the same month last year.

Higher energy prices ripple throughout the economy as they affect production and transportation costs for businesses.

– Pasta, beans and tortillas –

The war caused food prices to soar as the war disrupted exports of grain from Ukraine, a major supplier of wheat and sunflower oil to countries around the world.

In May, Allianz estimated that pasta prices had risen 19 percent in the eurozone over the past 18 months.

In Canada, another large wheat exporter, a 500-gram package was up 60 cents in July compared to the same month last year, to C$3.16, according to official data.

In Thailand, the price of instant noodles, which is controlled by the state, rose for the first time in 14 years in August — an increase of 17 percent to seven baht (20 US cents).

The price of cornmeal used to make tortillas in Mexico — a staple used in tacos and other dishes — has risen about 13 percent from last year and has contributed to two decades of inflation.

Pinto beans, a Brazilian staple, cost nearly 23 percent more in August than the same time last year.

– Meat –

As the cost of grain increased, livestock became more expensive to feed and farmers, in turn, raised their prices.

The price of pork, the most popular meat in China, rose 22 percent in August compared to a year ago.

Chinese authorities are considering tapping into their strategic pork reserves for the second time this year in order to stabilize prices.

In Argentina, mince pies are popular as their prices have traditionally been low, but they have gone up by three-quarters in the past twelve months.

The country currently enjoys one of the highest inflation rates in the world at 56.4 percent during the first eight months of the year.

In Europe, it was chicken prices that took wing as farmers had to contend with bird flu as well as cost pressures. Wholesale prices rose by a third in August compared to the same month last year.

– beer –

Beer makers have been affected not only by the increase in grain prices, but also by aluminum cans and glass beer bottles.

It is 70 percent more expensive than it was before the war in Ukraine, according to the Trade Association of European Brewers.

Heineken, the world’s second largest brewery group, raised its prices by an average of 8.9 percent during the first half of this year.

According to Bloomberg estimates, AB InBev, the world’s largest brewer that includes Budweiser and Corona beers, has raised its prices by eight percent.

In Britain, the cost of a pint has risen to more than four pounds ($4.6), the highest price since 1987, according to Britain’s Office for National Statistics.

– Newspapers –

Paper prices rose as demand rose after the Covid lockdowns ended. Printing is an energy-intensive process.

Several French dailies raised their rates earlier this year, as did a number of British newspapers such as The Sun, The Times and the Sunday Mail.

Others have reduced their page count.

In Europe overall, newspaper prices rose 6.5 percent in July, according to official data.

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