# How Consumers and Businesses are Reacting to Food Price Inflation - Euromonitor.com

> Euromonitor estimates global inflation at 8.9% in 2022 and 6.2% in 2023. Rising fuel, fertiliser, and raw material costs are feeding into animal feed and meat and dairy prices, with cereal-dependent categories hit by the Ukraine war.

- Date: 2023-01-03 · published 2023-01-03T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/12190-how-consumers-and-businesses-are-reacting-to-food-price-inflation-euromonitor
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Urea](https://feedsoft.ai/c/UREA.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher fuel and fertiliser costs push up feed production costs, which feed through to livestock and dairy prices. Feed buyers face sustained cost pressure from input inflation.

## Read by commodity

- WTI: bullish ▲
- CORN: bullish ▲
- UREA: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-05-01 | [Why prices of commodities, from metals to food, are soaring](https://feedsoft.ai/events/11301-why-prices-of-commodities-from-metals-to-food-are-soaring.md) | +2.2% | +4.4% |
| WTI | 2021-03-03 | [Re-assessing the commodity-FX relation \| articles \| ING THINK](https://feedsoft.ai/events/12207-re-assessing-the-commodity-fx-relation-articles-ing-think.md) | +7.2% | +1.4% |
| WTI | 2022-03-08 | [Canadian dollar decouples from oil, adding to BoC inflation headaches \| Reuters](https://feedsoft.ai/events/42497-canadian-dollar-decouples-from-oil-adding-to-boc-inflation-headaches-reuters.md) | -13.5% | -13.4% |
| WTI | 2025-06-25 | [Diesel prices soar: Regional breakdown of  how Middle East conflict is impacting U.S gas and diesel prices \| FleetOwner](https://feedsoft.ai/events/24387-diesel-prices-soar-regional-breakdown-of-how-middle-east-conflict-is-impacting.md) | +1.8% | +3.1% |
| WTI | 2021-05-11 | [Commodity currencies hold advantage as dollar waits for inflation and Fed \| Reuters](https://feedsoft.ai/events/47003-commodity-currencies-hold-advantage-as-dollar-waits-for-inflation-and-fed.md) | +2.0% | +8.0% |
| UREA | 2022-01-21 | [The Fertilizer Crisis Is Getting Real for Europe Food Prices - Bloomberg](https://feedsoft.ai/events/43072-the-fertilizer-crisis-is-getting-real-for-europe-food-prices-bloomberg.md) | 0.0% | -8.0% |
| UREA | 2021-10-05 | [Gas price surges to a record high in Europe on supply concerns](https://feedsoft.ai/events/44766-gas-price-surges-to-a-record-high-in-europe-on-supply-concerns.md) | +6.2% | +11.5% |
| UREA | 2021-09-24 | [Europe's gas prices surge but who will cut consumption? Kemp](https://feedsoft.ai/events/7929-europe-s-gas-prices-surge-but-who-will-cut-consumption-kemp.md) | +6.2% | +39.6% |

## Sources

- euromonitor.com: https://www.euromonitor.com/article/how-consumers-and-businesses-are-reacting-to-food-price-inflation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.