Is the ceasefire in the Gulf too late to stop food prices rising?

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  Is the ceasefire in the Gulf too late to stop food prices rising?

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  If we continue more than 40 days, 50, 60, we're talking of levels of COVID-19 because this will affect economic growth.

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  Because as food inflation goes up, overall inflation goes up,

• 00:53

  that means that countries will have to again increase interest rates.

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  It's World Business Report from the BBC World Service.

• 01:02

  I'm Sam Fenwick, almost 48 hours into a fragile ceasefire between Iran and the United States.

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  Shipping through the Strait of Hormuz remains heavily disrupted,

• 01:12

  driving up fuel and fertilizer costs and leaving farmers facing higher prices just as they head into the planting season.

• 01:19

  So today, what that means for the price of food in your supermarket basket.

• 01:31

  So the ceasefire in the Gulf was meant to reopen the Strait of Hormuz,

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