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- Chocolate may have just become even more of a luxury item with cocoa futures prices surging to a 12-year high.
- A mix of heavy rainfall and a black pod disease in West Africa have crunched supply, driving up the price of cocoa.
- Orange juice prices prices also hit a record high this week - suggesting food inflation risks in the US remain elevated.
Inflation may be cooling fast, but some food prices are hitting highs not seen in years.
Just days after orange juice prices climbed to a record, cocoa futures have surged to their priciest in 12 years.