Over the past several years, the world has experienced a historic series of globally disruptive crises. Amid the backdrop of increasingly intense effects from climate change, the COVID-19 pandemic and the outbreak of war in Ukraine have caused a surge in commodity prices and have driven substantial changes in the levels of food security across large portions of the developing world. While commodity price inflation is an important input to changes in food security, each country’s experience is the outcome of the relationship between numerous country-specific economic factors. Thus, a nuanced understanding of these factors is critical to designing effective policy measures to achieve food security goals.