Food prices rising means hunger means social unrest. The developed world is not entirely out of the woods. With low natural gas prices and heavily subsidised food, the poor of the US should hopefully come out relatively unharmed. It's going to be worse in the EU and its periphery: - High dependence on Russian natural gas. - Lots of fertiliser depends on Belarussian potash here. - The natural gas crisis is halting lot…
We over-produce a lot of food in the west. I think there's very little risk of hunger.
Some anecdotal evidence that might sound extreme, but actually isn't.
I know an old lady over 80 from Latvia. She worked all her life as a university trained economist. Like almost all people her age, her savings were eaten by the socio-economic chaos of the '90s. She has a 10% more expensive?
Reality is much bleaker than that for the majority of Latvian pensioners. Not all have a "high" pension of almost 400€. Not all are in good health. Not all have financial support from younger generations. Some of them are going to go hungry.