We are already seeing how the Ukraine issue is affecting the entire economy, not only continental, but global.
And that is undoubtedly the number one reason for this clear price escalation in basic consumer products. Ukraine and Russia are two of the main cereal producing countries in the world, and right now their export is quite paralyzed or very low.
Cereals, as raw material, are essential for the chain. Without it, the rest of the global food industry suffers.
This represents another great danger of globalization and the interdependence between countries.