Latin America food price spikes

In early July 2026, analysts reported that basic food costs were climbing sharply for families in Mexico’s Morelos state and Peru’s Arequipa region. In Morelos, the projected price of a standard basket for a four‑person household was set to exceed 10,000 pesos, driven by higher prices for tomatoes, potatoes and onions. In Arequipa, the cost of large rocoto peppers doubled to S/12 per kilogram, while corn and chicken also rose.

By the end of July, the focus expanded to include other staple commodities and additional countries. In Mexico’s Piedras Negras, Coahuila, the price of Hass Extra avocados hit a seasonal record of 105.99 pesos per kilogram, with medium and large varieties also commanding premium rates. In Chile’s Biobío region, heavy rains and flooding disrupted short‑cycle crops, pushing up avocado, tomato and lettuce prices. Union leaders and agricultural officials linked the price hikes to supply‑chain strains caused by the weather events, noting that prices were expected to ease once harvests and transport normalized.