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Food

Biden pledges an additional $2.9 billion in aid to help fight the global food crisis

by Samantha Fields
Sep 21, 2022
The good news? The world's producing enough food to feed everyone. The bad news? Getting it to hungry people is more expensive.
President Joe Biden speaks to the United Nations General Assembly, pledging $2.9 billion to fight the global food crisis.
Anna Moneymaker/Getty Images
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How is the restaurant industry faring these days?

by Kristin Schwab
Sep 9, 2022
More people are going out to eat, but some are frustrated with the rising cost. Yet the cost crunch is just as bad, or worse, for restaurant owners.
Even though restaurants' costs are rising, owners may not raise menu prices as much to avoid scaring customers away.
Spencer Platt/Getty Images
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My Economy

Like Willy Wonka, this Memphis chocolatier wants his sweets to tell stories

by Sarah Leeson
Sep 5, 2022
With flavors like barbecue, cornbread and banana pudding, Phillip Ashley Rix found an unfilled niche in the luxury chocolate world.
A box of luxury chocolates from Phillip Ashley Rix.
(Courtesy Rix)
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Why the price of groceries is going up faster than a meal out

by Samantha Fields
Aug 10, 2022
In part, that’s because restaurants don’t want to scare away customers.
"If consumers were truly, truly worried," says economist Jennifer Lee, discretionary spending on things like restaurant lunches "would be one of the first areas they would cut back on."
Spencer Platt/Getty Images
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Food price increases show signs of moderating

by Marielle Segarra
Aug 1, 2022
Grocery prices are up more than 12% over the past year. Climate change, the war in Ukraine and energy costs all have something to do with it.
A ship carrying corn leaves Odessa, Ukraine, on Monday, bound for Lebanon. Ukraine is an important producer of grain for world markets, and the Russian invasion prevented food exports for months.
Oleksandr Gimanov/AFP via Getty Images
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Chewing over the Kellogg Co. split: why now?

by Meghan McCarty Carino
Jun 21, 2022
One company will focus on snacks, another breakfast cereals and a third will explore the new sector of plant-based foods.
One of the food giant's proposed companies will focus on cereals.
Bill Pugliano/Getty Images
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Economic Pulse

California's drought is squeezing farmers and threatening food prices

by David Brancaccio and Rose Conlon
May 10, 2022
“There are a lot of empty fields that aren't being planted — something I've never seen before," say Terranova Ranch's Don Cameron.
In California, almond trees are being removed and hundreds of thousands of acres of rice won't be planted because of the drought, says Don Cameron of Terranova Ranch.
Justin Sullivan/Getty Images
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War in Ukraine could affect food and energy prices through 2024, World Bank says

by David Brancaccio , Alex Schroeder and Rose Conlon
Apr 28, 2022
Wheat prices could increase more than 40% and energy more than 50% this year, according to the bank's president, David Malpass.
Commodity prices are rising, and "it’s hitting people in the poorest countries hardest," World Bank President David Malpass says. Stagflation is also a risk.
Louai Beshara/AFP via Getty Images
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Tater tot casserole without tater tots? Rising costs stress school lunch programs.

by Stephanie Hughes
Apr 11, 2022
Schools provide meals to millions of kids each day, and they're closely watching food inflation.
During the pandemic, most schools were able to offer free lunches under a federal waiver. But that waiver's set to expire this summer.
Michael Loccisano/Getty Images
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Global food prices reach all-time high

by Stephanie Hughes
Apr 8, 2022
The United Nations’ index of global food prices rose 12.6% in March, increasing the risk of hunger in the developing world.
In Egypt, the government subsidized bread so much that it costs consumers less than the value of the grain it's made with, leading to waste.
Khaled Desouki/AFP via Getty Images
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