War and heatwaves threaten to push bread and pasta prices higher

Global food prices are expected to increase by double digits in 2026 as Russia's escalating war in Ukraine worsens the impact of other food price shocks, according to Oxford Economics. Wheat is expected to face the greatest pressure, likely pushing up bread and pasta prices.

Extreme weather is causing uncertainty over the future availability and cost of vegetables such as broccoli, carrots and potatoes.