Global consumer prices feel impacts of tightening rice supplies, shifts in global beef supplies

The Food Retail and Manufacturing team within Food and Agricultural Commodities at S&P Global Commodity Insights discusses the latest food price inflation trends in April across global markets. In April, food inflation continues to slow in the US and Europe, but weather in Brazil, India, and Southeast Asia is creating volatility in consumer prices for fruits and vegetables, as well as rice. April also sees mixed movements around the world on beef prices, as the US continues to see high prices due to tightness in the domestic cattle herd, while a surge in South American harvest levels has brought down beef prices in Brazil and mainland China, which continues to see record beef demand despite ongoing economic challenges in the country.