The world is racing to vaccinate its way out of the coronavirus pandemic, but another challenge has already emerged for some more vulnerable governments and economies.

Global food prices are at the highest in more than six years, driven by a jump in the cost of everything from soybeans to palm oil because of demand from China, vulnerable supply chains and adverse weather.

Some banks warn the world is heading into a commodities "supercycle.” Inflation is putting another squeeze on consumers hurting from pandemic-induced recession and-in some places-falling currencies.