Institutions warn that global food price inflation may face a new round of crisis.

JPMorgan Chase, a US financial institution, recently published a report predicting that the global food price inflation rate will rise from 2.8% in the first half of this year to 5% in the first half of next year. The institution stated that the next global inflation shock may not occur at gas stations but rather on supermarket food shelves. This report is titled "Food Security is National Security: A Perfect Storm." JPMorgan warned in the report that the conflict in the Middle East has disrupted traffic through the Strait of Hormuz, combined with the strong El Nio that could lead to reduced crop yields. Multiple factors will converge to impact agricultural production, resulting in high food prices persisting into the first half of 2027.