Fertiliser Price Spike Threatens Global Food Inflation

Nitrogen fertilizer prices, especially urea, have surged over 50% due to the Middle East conflict and Hormuz blockade.
The spike is expected to lift global food inflation, with UK food inflation above 6% by 2027 and US/eurozone near 4%.
Developed economies face marginal GDP impact, while Sub‑Saharan Africa and South Asia risk significant contraction.
Inflationary pressure will peak more than a year later because of planting cycles and depleted stock levels.