According to Bloomberg and the UN Food and Agriculture Organization (FAO), global food prices are rising sharply. In particular, the Bloomberg food price index rose by 13% in the latest quarter, reaching its highest level since 2022.

The increase is being driven by climate-related risks, including extreme heat and delayed monsoon rains. Wheat and grain stocks — among the most widely consumed food commodities globally — are declining in leading exporting countries.

This situation raises the risk of further acceleration in global inflation and negative impacts on emerging-market economies.

Implications for Uzbekistan: price dynamics in global food markets may affect import costs and domestic price formation. In this context, regular monitoring of global market developments, along with increasing domestic production and supply, is important for ensuring stability in the food market.