Global Food Shock as IEA Issues Warning

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The global energy crisis is threatening to hit your shopping bill. The International Energy Agency is warning that expensive diesel and disrupted fertiliser supplies could reduce harvests and put further pressure on food prices.

In this video, I explain how the wars in Iran and Ukraine are putting pressure on farming and transport, why fertiliser deliveries matter for future food supplies, and how higher costs could spread through the global economy.

With households in Turkey, Nigeria and India already facing substantial food inflation, another shock could deepen the squeeze. Lower-income families are particularly exposed because food already takes up a large share of their budgets.

What could this mean for the USA, Britain and Europe — and could renewed food inflation delay interest rate cuts?