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Global food and fuel price shocks linked to the Russia-Ukraine war are set to last until at least the end of 2024 and raise the risk of stagflation, the World Bank said in its latest Commodities Market Outlook report.
In its first comprehensive analysis of the war's impact on commodity markets, the bank, which provides loans and grants to low- and middle-income countries, said the world faces the biggest commodity price shock since the 1970s.
It is being aggravated, it said, by restrictions in food, fuel and fertiliser trade that are exacerbating already elevated inflationary pressures around the world.
"Policymakers
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