United States: Economic insecurity and abnormal weather are leading to sharp price spikes around the globe

The world is racing to vaccinate its way out of the coronavirus pandemic, but another challenge has already emerged for some more vulnerable governments and economies.Global food prices are at the highest in more than six years, driven by a jump in the cost of everything from soybeans to palm oil because of demand from China, vulnerable supply chains and adverse weather.Some banks warn the world is heading into a commodities “supercycle.” Inflation is putting another squeeze on consumers hurting from pandemic-induced recession and—in some places—falling currencies.Since the start of the year, protests have raged in Sudan, while anxieties over securing food contributed to strife in Lebanon and Tunisia, ground zero for the Arab Spring uprisings a decade ago. In India, farmers revolted against efforts to bring prices down. Russia and Argentina have restricted crop shipments to suppress prices at home. Even rich countries like the United Arab Emirates are considering possible price ...