Prices Global food prices rise 3% in October, says the United Nations index that tracks the price of staple foods ranging from wheat to vegetable oils. It is the biggest rise in the past decade and, poses a threat to household grocery bills, according to Bloomberg.  

In addition, they may also increase central bank concerns around inflation and worsen world hunger, which has also already reached a multi-year high. And there are several factors that don't help: bad weather has hit crops around the world, transportation costs have skyrocketed, labor shortages have disrupted the supply chain, and the energy crisis is also penalizing. 

Food price increases in October were largely driven by higher costs for grains and vegetable oils. However, there are signs of stabilization in the prices of some foods, such as meat and sugar.

Bloomberg recalls that on a global scale, the rise in food commodity prices "is related not only to the energy crisis, but also to high transportation costs and labor shortages - affecting supply chains, producers and supermarkets alike.