Food prices around the world have hit a 10-year high during the pandemic – with the biggest rises affecting some of the poorest countries
According to a new world vision report, soaring food prices combined with lockdown-induced job losses and disrupted nutrition services has fuelled a global hunger crisis
World Vision Australia CEO Daniel Wordsworth joined ticker to share more on World Vision’s Price Shocks report.
Thought the cost of groceries in Australia had climbed during COVID?
Well, we Australia is still the ‘lucky country’, compared to places like Syria, east Africa or Myanmar, where the cost of food has soared by more than 50 per cent since the pandemic began.
That’s the finding of a new World Vision report which has found food prices have not only hit a 10-year high during COVID, but that the biggest rises are hitting the world’s poorest the hardest.
World Vision’s Price Shocks report compared the cost of a basket of 10 staple items in 31 countries and found Australians would have to work an average of one hour to pay for the 10 items, while people in Syria would have to work three days and in South Sudan eight days.
“In many countries around the world where well, visions working, you already have environments that are very fragile. So they’re already struggling, maybe with conflict, maybe with large scale people movement in a place like Lebanon, for example,” Daniel told ticker NEWS.
He said when you put on top of that COVID, it’s plunged the World Food System in a kind of crisis, you have less food being made, because there are less workers and less ability to get into those spaces, the movement of that food into marketplaces are restricted because of COVID, the ability to process it, then the ability to take it into micro places and sell it, all of this has been threatened by COVID.
“You have 3 billion people going to bed at night without enough food.”
Price Shocks found between February 2020 and July 2021, while Australian food prices rose by just 3.5 per cent, prices increased in Myanmar by 54 per cent, Lebanon 48 per cent, Mozambique 38.3 per cent, Vanuatu 30.9 per cent, Syria 29.2 per cent and Timor-Leste 17.7 per cent – affecting mainly people who could least afford it.
Daniel said the report confirmed the aftershocks of COVID-19 had the potential to exact a greater toll on the world than the virus itself.
“Job losses and lower incomes from the pandemic are forcing millions of families to skip meals, go for cheaper, less nutritious food, or go without food altogether,” Daniel said.
The report also cites a recent study which estimated by the end of 2022, the nutrition crisis caused by COVID-19 could result in 283,000 more deaths of children aged under five, 13.6 million more children suffering from wasting or acute malnutrition and 2.6 million more children suffering from stunting. This would equate to 250 children dying each day from pandemic-related malnutrition.
“As always, children suffer the most – they are the most vulnerable to hunger because they have a greater need for nutrients, they become undernourished faster than adults and are at a much higher risk of dying from starvation,” Daniel said.
Daniel said World Vision had been responding to the hunger crisis, reaching 12 million of the world’s most vulnerable people in 29 countries with food and nutrition in 2020 alone.
And he was confident Australians would step up to help organisations like World Vision provide emergency food and cash assistance to those in need. World Vision has also urged the Australian Government to commit $AU150 million famine-prevention package to avert a worsening of the crisis.
“Generosity in the face of need is in our DNA, so I am certain Australians will respond – the same way we responded to the Boxing Day tsunami, the Ethiopia famine and the Beirut port explosion.”
AI sector drives economic growth; Meta adjusts strategy, Palantir’s valuation sparks questions, and Nvidia leads amid rising competition.
The artificial intelligence sector continues to be a major driver of growth for both the U.S. and global economies. Companies at the forefront of AI innovation are influencing market trends and reshaping industries worldwide.
Meta’s stock has rebounded slightly following reports of potential cost-cutting measures and job reductions in its Reality Labs division. Investors are watching closely as the company adjusts its strategy to manage rising expenses and optimize innovation.
Palantir is trading at over 120 times forward sales and 180 times forward earnings, signaling investor confidence but also raising questions about valuation risks. Meanwhile, Nvidia maintains a market cap of $4.2 trillion as a leading AI chip supplier, yet competition is ramping up.
These moves highlight the growing tension between tech giants’ AI ambitions and the practical need to balance profits with heavy R&D spending.
Some analysts, however, warn that rapid growth may not be sustainable, with current levels of AI-related spending potentially overshooting realistic returns.
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Analysts forecast $500 billion AI investment by 2026, transforming corporate spending priorities and enhancing economic productivity.
Analysts predict that artificial intelligence companies could invest over $500 billion in 2026, signaling a major shift in corporate spending priorities. This surge in capital allocation comes as businesses look to harness AI to drive growth and efficiency across multiple sectors.
Following strong third-quarter earnings, overall capital spending estimates for 2026 have been revised upward. However, investors are becoming more selective, focusing on companies that can clearly demonstrate revenue benefits from their AI investments, separating hype from tangible results.
AI adoption is expected to boost economic productivity, with significant investment already flowing into AI infrastructure such as semiconductors and data centres. The coming year could redefine how companies leverage technology to gain a competitive edge.
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2025’s market turmoil analyzed: AI hype, tariffs, global politics, and Federal Reserve impacts—tune in for expert insights!
2025 has been a rollercoaster for investors, with AI hype, tariffs, and global politics shaking up markets. We break down what these trends mean for your portfolio and the risks ahead.
Joining us for insights is Kyle Rodda from Capital.com, who explains how Treasury yields, unemployment data, and inflation readings are shaping investor sentiment. We also dive into what the Federal Reserve’s recent moves could mean for 2026.
From the potential impact of a 43-day government shutdown to payroll numbers and market expectations, this episode gives you the clarity you need to navigate the next year in stocks.
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