Rising food prices: USA are now predicting dramatic consequences

Created: 04/19/2022, 18:10

A shopping trolley with groceries and everyday products is pushed through a supermarket parking lot.

(Archive) © Jens Büttner/dpa

Food has become more expensive as a result of the war in Ukraine.

The United States is now warning of dramatic consequences.

Washington - Rising food costs could impoverish millions of people, according to US Treasury Secretary Janet Yellen.

"Initial estimates suggest that at least 10 million people could be pushed into poverty just by higher food prices," Yellen said in Washington on Tuesday.

Food prices are rising: “Dramatic situation continues to deteriorate”

"We are faced with a widening global food crisis," she said.

Above all, “the most vulnerable” people are affected, namely families “who already spend a disproportionate part of their income on food”.

The Russian war of aggression in Ukraine * have "further worsened the already dramatic situation," said Yellen.

"Price and supply shocks" can already be observed.

"I want to make it very clear: Russia is responsible for this," emphasized the US Treasury Secretary.

Ukraine and Russia are among the most important grain suppliers for numerous developing countries.

Since the beginning of the war, food prices have skyrocketed on the world market.

Yellen spoke on the sidelines of the spring meetings of the International Monetary Fund (IMF) and the World Bank.

The talks focus on the Ukraine war and its consequences.

All the latest news about the Ukraine war here in the news ticker.