World Bank warns of worsening global food insecurity as commodity prices soar due to conflicts and El Niño

The World Bank announced that global commodity prices are projected to increase by 23% by the end of 2026, with energy prices at four-year highs due to the war on Iran and food prices driven up by global conflicts and the El Niño phenomenon. This situation threatens to worsen inflation, food insecurity, and economic growth, with food prices expected to rise by 10% in 2026 and an additional 7% next year. The report highlights the impact of conflict-affected grain supply lines and extreme weather on food producers.