Food prices were a key driver of the 2022 global inflation surge but have been relatively benign so far this year, even tempering in some places the surge caused by high energy costs. "The transmission from the commodity to the final food price is around three to six months," he said. ADVERTISEMENTAlthough some commodity prices, such as wheat, maize and rice have increased in recent months, most still reflect relatively good harvests, rather than likely difficulties in the coming year. Commodity PricesSince commodity prices are global, this inflicts pain across the world, even if richer countries have more cash to buffer producers. Meanwhile this year's El Nino weather phenomenon is likely to be especially strong, significantly shifting rainfall patterns, likely impacting commodity prices and potentially pushing tens of millions into acute food insecurity.