ILO homeAbout the ILONewsroomAll ILO Newsroom content All ILO Newsroom content December 2020 © Jérémy Stenuit 2022 COVID-19 and price inflation COVID-19 drives up food prices worldwide 10 December 2020 COVID-19 restrictions have altered consumer spending patterns. In particular, lockdown measures have affected the supply of and demand for certain products and, hence, their prices.